Mmm, Chips … Anna Project is a Sign Sherman’s Silicon Corridor is Powering Development

Ground has been broken on another housing development obviously aimed at the rapidly developing silicon corridor in Texoma.

Dallas-based apartment builder Palladium USA plans to build a 239-unit, 8.3-acre project north of McKinney in Anna. Called Palladium East Foster Crossing, the project is less than a half-hour drive from where all the technology development is happening.

In the span of a few months, Texas Instruments and GlobiTech have announced plans to build billion-dollar chipmaking plants, a domestic answer to the worldwide chip shortage. They’re two of the 34 planned development projects coming to Sherman.

That means jobs, jobs, jobs. It also means thousands of skilled workers need places to live.

Already, several neighborhoods are under construction in Melissa, Van Alstyne, and Howe. Palladium USA is the latest to take advantage. Palladium’s rental community will be built east of U.S. 75 on East Foster Crossing near State Highway 5 and not far from Palladium Anna, a mixed-income development that features one-, two-, and three-bedroom apartment homes.

“The northward expansion that we’ve been talking about for 30 years, well, it’s here,” Sherman City Council member Josh Stevenson told The Real Deal.

The Palladium USA development will have apartments in a four-story building and includes a resort-style swimming pool, fitness center, conference center, dog park, computer lounge, kids’ playroom, and clubroom. In other words, a nice place to chillax after a hard day at the chipmaking quarry.

“Construction has started, and we will be delivering the clubhouse and first units in November of 2023,” Tom Huth, president and CEO of Palladium USA, said in a statement.

The Anna Public Facilities Corp. issued $33 million in tax-exempt bonds to help fund the development.

“Our community understands the need for quality, diverse housing options, and this project helps further that vision,” Anna Mayor Nate Pike said in a statement.