Houston, TX (September 25, 2025) – Palladium USA today announced the opening of its new $35 million multifamily housing development in northeast Houston, Palladium Houston Ella. Palladium Houston Ella is a public-private partnership with the Harris County Housing Finance Corporation. The Harris County Housing & Community Development Department awarded $4.3 million in U.S. Treasury ARPA funds for the project.

The property is a 146-unit mixed-income multifamily community, with 115 units designated as affordable housing for households earning between 30% and 80% of the Area Median Income (AMI) and 31 units at full market rate. The seven-acre, three-story development features one-, two-, and three-bedroom floor plans with upgraded finishes including nine-foot ceilings, hard floor surfaces, dual sinks in the primary bath, and balcony/terrace. Upscale community amenities include a resort swimming pool, state-of-the-art fitness center, conference center, dog park, computer lounge, kids’ playroom, and clubroom containing a mini kitchen with upgraded appliances and granite countertops.

Reflecting the community’s high demand for affordable housing, Palladium Houston Ella fully leased in a record two months before opening. The property provides high-quality housing and amenities for workers, seniors, and families.

“It is no secret that Harris County is facing a growing housing affordability crisis,” said Rene Martinez, Executive Director of the HCHFC. “According to Rice University’s Kinder Institute My Home is Here study, the county needs more than 20,000 new affordable multi-family and single-family housing units per year to meet current demand. Palladium Houston Ella is the second of 18 affordable housing projects to open that our agency is helping to develop across the county in the near future, so hardworking families have a safe, quality place to call home.”

“Today we are thrilled to celebrate with our residents at the grand opening of Palladium Houston Ella,” said Tom Huth, President and CEO of Palladium USA. “Fully occupied after one of the fastest lease-ups in our history, Palladium Houston Ella delivers 146 high-quality, attainable homes with luxury amenities. We thank Harris County, Harris County Housing Finance Corporation, our partners, our residents, and our on-site team and remain committed to strong property operations and long-term stewardship.”

“There is no greater honor than helping Harris County families find a place to call home,” says Thao Costis, Executive Director of Harris County Housing & Community Development. “Our mission is to create housing solutions that strengthen communities and open doors to opportunity. This development reflects our commitment to building safe, affordable homes that support stability, growth, and a brighter future for our residents.”

This is the HCHFC’s first general partnership and first tax-exempt development.

The project is secured under a 99-year ground lease, ensuring long-term affordability. In addition to the ARPA funding, financing includes $18 million of equity from Regions Bank and $20 million in 9% housing tax credits from the Texas Department of Housing and Community Affairs (TDHCA). HEDK Architects designed the project. Brownstone Construction in partnership with the HCHFC is the general contractor.

Resident testimonials:

“I work in the health care industry as a CNA, not originally from Houston, but wanted a fresh start for my son and me. Moving to Houston, I knew the cost of living would be higher than where we came from, and that I would be spending most of my check on rent, and figured the place wouldn’t even be very nice. All I can say is WOW! My spot is pure luxury, makes me feel classy coming home - the countertops, light fixtures, the bathroom, closet, and even the floors shout high-end hotel vibes!!!! There is even wi-fi at no cost. Houston Ella surpassed my wildest dreams!” - LaKeshia, Certified Nursing Assistant

“In 2018, I lost my daughter, who had four children; the four children now live with me. The pain of losing my daughter was excruciating, but the thought of how I would support four children at my age was frightening. One day, while driving (before any construction had started) I scanned the QR code, and the rest is history. We live in a three-bedroom apartment that feels like home (not an apartment), both the middle and elementary school are close by, and so is the grocery store. It’s quiet, peaceful, clean, and safe -all of this and affordable. THANK YOU!” - Stephanie, Full-Time Grandmother of 4

“I looked up Palladium while driving by, taking my nephew to school, and I LOVE IT HERE! The size of the complex - it’s not too big, not too small, always clean, and close to my family. I don’t know who to thank for making this type of place affordable. At 57 years old, I would have never thought a place this nice would be in my price range. I’m now proud to invite friends and family over to watch the game and cook.” - Toby, Maintenance at Palladium Houston Ella Apartments