VIC Partners LLC announced that it has secured a $36.5 million primary line of credit to fund the construction of Vic Centre, a new workforce‑housing community in east Fort Worth. The development will rise at 7120 Anderson Blvd., just east of Loop 820 and north of Interstate 30, and will provide 268 affordable rental units for families and workers who are currently underserved by the local market.
Financing and Development Details
The loan is being provided by OakNorth Bank as part of a $48 million joint financing package that also includes Hickory CRE Capital, a commercial real‑estate lender. Concord Summit Capital acted as the construction‑loan arranger. According to a filing with the Texas Department of Licensing and Regulation, the total estimated construction cost is $41.7 million.
Vic Centre will consist of nine three‑story residential buildings, a clubhouse, a fitness center, a pickleball court and a business center, along with 402 parking spaces. The project is being developed by Vic Partners and built by Utah‑based M‑13 Construction.
Market Context
Dylan Jagjivan, debt‑finance director at OakNorth, said workforce housing remains an undersupplied segment in fast‑growing Texas cities such as Fort Worth. He noted that the project’s business plan is “well‑priced” and targets renters who are already in the market but lack suitable options.
Related Local Developments
Other commercial projects highlighted in the same report include:
- Scooters Sports Bar & Grill signing a 10‑year lease for its third location in the Harwood Shopping Center, Bedford. The 8,168‑square‑foot space will be upgraded with roughly $1 million in improvements and is slated to open by mid‑2027.
- Rock Island Auction Company continuing renovations of its former Walmart anchor at Harwood Road, adding a firearms showroom and upgrading the 1,544‑space parking lot.
- The Park, an 83,473‑square‑foot speculative industrial and flex development in Colleyville, is under construction with delivery expected in Q4 2026. Citadel Partners is leading leasing efforts.
- Horizon 35, a master‑planned business park at the northeast corner of I‑35 and Loop 288 in Denton, broke ground with Phase I delivering 543,550 square feet of space, scheduled for completion in Q3 2027.
These projects collectively illustrate a broader trend of private investment aimed at expanding affordable housing, retail, and industrial space across the Mid‑Cities region.
Community Impact
Vic Centre’s mix of residential units and on‑site amenities is designed to support working families, reduce commuting distances, and stimulate local commerce. The inclusion of a business center offers small‑business owners and entrepreneurs a convenient location for offices or meeting space, aligning with regional efforts to attract and retain talent.
City officials have not yet announced any zoning changes or public‑infrastructure commitments related to the project, but the development is expected to generate construction jobs in the short term and permanent service positions once occupied.
Original reporting: Fort Worth Report — read the source article.
