Smart affordable housing provider Planet Smart City is partnering with international real estate developer Palladium Group to build a tech-enabled rental housing complex in Little Elm, Texas.
Work on the project, named The District, builds on the existing partnership between Planet and Palladium, which has seen the regeneration of Quartiere Giardino in Milan, Italy – designated a “smart district”.
With expertise in construction, Palladium Group will employ local workforces to build the 324 rental properties, as well as 11,000 square feet of retail and commercial space. Planet is providing both capital and expertise for the project and will integrate a variety of smart solutions to enhance services available to residents and improve quality of life.
Smart solutions will include: the Planet app, a community app where residents can interact with the smart solutions and shared services available in the neighbourhood; an innovation hub, a space equipped with resources, tools and technologies to enable residents to thrive; as well as community management, a team dedicated to understanding community needs and co-creating events, courses and activities.
“In Italy, Palladium and Planet Smart City have shown how rich community life and a high quality of living can be accessible at a reasonable price”
Little Elm, located in Denton County, is said to be one of the fastest growing municipalities in Texas, with an estimated population of more than 55,000. Like many other cities in North America, due to a lack of supply and increasing rental prices, there is a pressing need for affordable housing solutions.
Planet said the launch of apartments in Little Elm will help address the housing deficit by offering new, smart-enabled homes for an average of $1,300 per month.