Rendering of Vic Centre Apartments, a 268-unit workforce housing development planned for East Fort Worth.
Summa Terra Ventures
A new apartment development is coming to east Fort Worth.
The 268-unit Vic Centre will target middle-income earners.
OakNorth, a digital commercial bank, announced on Aug. 18 that it would provide a $36.5 million senior facility as part of a $48 million co-loan with Hickory CRE Capital, a commercial real estate lender. Records filed in 2022 show that the project’s construction cost was originally estimated to just under $42 million.
The development will have nine three-story residential buildings, a clubhouse, fitness center, pickleball court, business center and over 400 parking spaces.
Vic Centre will be 7120 Anderson Blvd., near the intersection of Interstate 30 and East Loop 820. It is approximately 11 miles from downtown Fort Worth, eight miles from Arlington and 17 miles from Dallas-Fort Worth Airport.
“Workforce housing is one of the most undersupplied segments across U.S. multifamily right now, and Fort Worth is a market where job growth and population inflows have consistently outpaced the delivery of attainably priced rental product,” Dylan Jagjivan, debt finance director at OakNorth, said in a news release. “What we found compelling here was the clarity of the business plan – this isn’t a speculative luxury play, it’s a well-costed scheme targeting renters who are already in the market and underserved by existing stock.”
The Vic Centre project is being developed by Vic Partners LLC and led by Utah-based company M-13 Construction.
Fort Worth Star-Telegram
Maven Navarro is a local news reporter at the Star-Telegram. She covers Fort Worth and Tarrant County.