VIC Partners Secures $36.5 Million for 268-Unit Fort Worth Workforce Housing Project
Updated
Updated · Fort Worth Report · Aug 23
VIC Partners Secures $36.5 Million for 268-Unit Fort Worth Workforce Housing Project
1 articles · Updated · Fort Worth Report · Aug 23
Summary
$36.5 million in primary credit will fund construction of Vic Centre, a 268-unit workforce apartment project at 7120 Anderson Blvd. in east Fort Worth.
OakNorth Bank is providing the loan within a $48 million joint financing package with Hickory CRE Capital, while Concord Summit Capital arranged the construction debt.
The 2022 state filing put construction costs at $41.7 million; the project includes nine three-story buildings, a clubhouse, fitness center, pickleball court, business center and 402 parking spaces.
OakNorth said workforce housing remains undersupplied in fast-growing Fort Worth, framing Vic Centre as a non-luxury project aimed at renters already priced into the market.