Palladium Houston Ella Opens, Delivering Critical Affordable Housing to Northeast Houston

Sep 26, 2025

Ribbon cutting for Palladium Houston Ella in Northeast Houston

The new $35 million multifamily housing development leased up in a record time, reflecting the community’s demand for affordable housing.

Palladium USA, The Harris County Finance Corporation (HCHFC), the Harris County Housing & Community Development Department (HCD), community leaders and residents celebrated the grand opening and full occupancy of the stunning new Palladium Houston Ella apartment community on Sept. 25.

The property offers 146 apartment homes, including 115 income-restricted homes for households earning 30% to 80% AMI and 31 market-rate homes, with luxury amenities such as a resort-style pool, fitness center, conference room, dog park, computer lounge, children’s playroom, and a resident clubroom.

Palladium Houston Ella is a public-private partnership with the HCHFC. HCD awarded $4.3 million in U.S. Treasury ARPA funds for the project. This is HCHFC’s first general partnership and first tax-exemption development.

“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.”

The project is secured under a 99-year ground lease to ensure long-term affordability. Regions Bank provided $18 million of equity. The Texas Department of Housing and Community Affairs (TDHCA) provided $15 million of 9% housing tax credits. The project was designed by HEDK Architects. Brownstone Construction is the general contractor.

This is the first multi-family development for Palladium in the city of Houston. Palladium and HCHFC currently are developing a second property in Houston, Palladium Park Row in Katy that will open in December.