Trademark Property Co. has partnered with SCOA Real Estate Partners for the development of The Vickery, a 321-unit community in Fort Worth, Texas. The joint venture already purchased the land and First United Bank provided a $61 million construction loan for the project, set to break ground early next year.
A Walker & Dunlop Capital Markets team advised Trademark on the joint venture development. In 2022, the Tax Increment Finance 4 board provided $3.3 million towards streetscape and public improvements at the site, including sidewalks and lighting. GFF is the project architect.
Designed according to LEED Bronze standards, the five-story community is set to encompass 307 apartments and 14 townhomes, along with a 5,300-square-foot restaurant building with a second-floor lounge. Common-area amenities will include a pickleball court, two dog parks and public green space. In addition, there will be a coworking lounge, EV charging stations, a rooftop lounge and a swimming pool.
The community will rise at 800 W. Vickery Blvd., close to several dining and retail options and 0.8 miles from Fort Worth T&P railway station. University Park Village, Texas Christian University and University of North Texas Health Science Center are within 3 miles of the site, while downtown Fort Worth is less than a mile away. The community will be roughly 10 miles from Range West, a 261-unit project that broke ground in October.
The Walker & Dunlop Capital Markets team was led by Senior Director Heather McClure and Managing Director Jonathan Paine.
Fort Worth’s growing inventory
According to Yardi Matrix data, there are currently roughly 60 properties under construction and 69 in planning stages in the Fort Worth metro. Ten communities are expected to come online before the end of the year, adding approximately 2,000 units to the inventory.
Trademark Property is waiting for final approvals for two other multifamily projects in the Fort Worth market, the same source shows. Upon completion, these developments are expected to generate some 400 units.
