A 268-unit workforce housing development is rising in East Fort Worth after its developer locked down a $50 million construction loan package, betting that renters priced out of the metroplex’s newer luxury towers will fill nine three-story buildings off Anderson Boulevard. Vic Partners is developing the project, called Vic Centre, at 7120 Anderson Blvd., just outside Loop 820 and north of Interstate 30.
The financing includes a $36.5 million primary line of credit from OakNorth Bank for construction, according to Connect CRE. OakNorth Bank and Hickory CRE Capital, described as a commercial real estate lender, together provided $48 million in joint financing, while Concord Summit Capital arranged the overall construction loan. Vic Partners has put the total construction cost at $41.7 million, and the capital stack was structured with an 80% loan-to-cost ratio combining senior construction debt with mezzanine financing, according to Connect CRE’s separate reporting on the $50 million total package, which notes the deal was brokered by Concord Summit directors David Larson and Keegan Burger.
M-13 Construction is also developing Vic Centre alongside Vic Partners. Utah-based Summa Terra Ventures has been identified as a co-sponsor and co-developer on the project, according to its own portfolio materials, which describe the firm as active in multi-family and mixed-use communities across Utah, Texas, Missouri, South Carolina, and Indiana.
What’s Actually Getting Built
The finished complex will offer a mix of 54 studio apartments, 108 one-bedroom units, and 106 two-bedroom units, per Summa Terra Ventures’ project materials, spread across the nine three-story residential buildings. Amenities will include a fitness center, a business center, a clubhouse, and a pickleball court, plus 402 parking spaces for the 268 units. Construction on the 242,000-square-foot project got underway in mid-2026, with full buildout expected within 24 months, according to Bisnow, which reported the development sits on a 19.18-acre site…