Fort Worth workforce housing project secures $36.5 million financing

VIC Partners LLC has secured a $36.5 million primary line of credit to fund the construction of Vic Centre, a 268-unit workforce housing development located in east Fort Worth. The project, situated at 7120 Anderson Blvd., is being led by Utah-based M-13 Construction.

The financing is part of a $48 million joint effort involving OakNorth Bank and commercial real estate lender Hickory CRE Capital, with Concord Summit Capital arranging the construction loan. The total estimated cost of construction was previously filed at approximately $41.7 million.

The development will feature nine three-story residential buildings, a clubhouse, a fitness center, a business center, a pickleball court, and 402 parking spaces. Developers noted that workforce housing remains an undersupplied segment in rapidly growing cities like Fort Worth.