VIC Partners has secured a construction financing package to develop Vic Centre, a workforce rental community planned for 7120 Anderson Blvd. in Fort Worth. The project will deliver 268 units aimed at workforce housing, with the site located outside Loop 820 and north of Interstate 30. Vic Partners is developing the community in partnership with M-13 Construction, which is also named as a development partner on the project.
The capital stack for Vic Centre is anchored by a $36.5 million primary line of credit that will fund the bulk of the construction. OakNorth Bank is providing this primary facility as part of a broader $48 million joint financing structure. Hickory CRE Capital, a commercial real estate lender, is participating in the overall financing alongside OakNorth Bank. Together, the two lenders are supplying the construction funding needed to advance the project through its build-out.
Concord Summit Capital arranged the construction loan, acting as the intermediary between the sponsorship team and the lending parties. The arranger role included structuring the debt package that combines the OakNorth Bank credit line with the additional financing from Hickory CRE Capital. While the parties disclosed headline amounts for the primary line of credit and joint financing, detailed loan terms such as duration, interest rate, and amortization structure were not released.
According to VIC, the estimated cost of construction for Vic Centre is $41.7 million. The development plan calls for nine three-story residential buildings organized around shared community amenities. Within the project, residents are expected to have access to a clubhouse and fitness center, along with a dedicated business center that supports work-from-home and professional needs.
Recreational amenities at Vic Centre will include a pickleball court, underscoring the growing popularity of this activity as a draw for renters. The community is also planned with 402 parking spaces, intended to support both residents and visitors. No additional details were provided on projected delivery timing, lease-up expectations, or specific rent levels for the workforce-oriented units.
Together, the combination of multi-building residential density, on-site amenities, and parking positions Vic Centre as a new workforce housing option within Fort Worth. The construction loan from OakNorth Bank and Hickory CRE Capital, arranged by Concord Summit Capital, gives the sponsorship group the capital needed to proceed with the project in its current form.
