Palladium USA International Plans Tallest Residential Tower in Texas Town
The company has plans for a 30-story luxury community.
By Jeffrey Steele, Contributing Writer
Dallas—Palladium USA International has contracted for the purchase of land to build a 30-story luxury high-rise in the coveted Legacy West development in Plano, Texas. The tower is destined to be the tallest in Collin County, Texas.
Rising from a 2.1-acre parcel, the property will offer 312 upscale rental homes. It will be sited just north of the existing Headquarters Drive, next to the Liberty Mutual Insurance complex currently under construction.
An eight-level structured parking garage offering approximately 500 parking spaces will be positioned below the residential tower. The result is a structure with gross building area in excess of 410,000 square feet.
“To be building next door to 15,000 new jobs, and being part of the $2 billion Legacy West development—containing all the restaurants, shops and retail within walking distance of our site—is what makes this such a dramatic development,” Palladium president and CEO Tom Huth told MHN. “Not to mention the visibility from the Dallas North Tollway and State Highway 121.”
The architectural design of the high-rise is the result of a close collaboration between Palladium USA and Fehmi Karahan, Legacy West master developer.
“Fehmi was very particular not only in selecting Palladium to be the high-rise residential developer, but also in guiding the architectural look and feel of the development,” Huth said. “He wanted an iconic statement to be made with this development, not only in terms of height, which is penciling out at almost 360 feet, but also in quality, which will be unparalleled.”
Added Karahan: “We were not looking merely to sell land. We were looking to find the right developer to build a first-class, luxury, high-rise residential product that will enhance and support our other projects, such as Toyota, FedEx, Liberty Mutual and the retail-office-residential mixed-use Legacy West urban center. It will be a perfect complement to Windrose Luxury Condo Tower.”
Renters in search of best-in-class apartment residences will need look no further than this high-rise building to discover unrivaled amenities. The ninth-floor amenity deck will offer an outdoor pool and courtyard area, a 2,300-square-foot fitness center and 3,800-square-foot spa with massage room, yoga and virtual fitness room, relaxation lounge, steam room, dry sauna room and locker rooms.
A 3,800-square-foot bar-lounge will provide residents with a private TV cabana, two conference rooms, a TV lounge, a private poker room, a catering kitchen, numerous seating areas and views to the outdoor pool.
At 9,000 square feet in size, the ground-floor leasing/lobby center will offer bicycle maintenance and washing as well as a storage area for 60 bikes. There will be seven car-charging stations, a pet-washing and grooming room, conference room and business lounge. A refreshments lounge will feature a catering kitchen, outdoor patio, seating and porte cochere entrance.
The tower will offer a 1,070 average net rentable square foot per unit.
Residences will range in size from 616 square feet to more than 6,000 square feet for the largest penthouse residence in the region, according to Huth. Pricing for the residences has not yet been determined. Construction is slated to start in spring of 2016 and continue for 24 to 30 months, Palladium USA reported.