New 5-story apartments with restaurant will transform this industrial edge of downtown
A developer is building a mixed-use community with more than 300 apartments on West Vickery Boulevard at Hemphill Street, along the southern edge of downtown Fort Worth.
Trademark Property Co. said Monday that the project, called The Vickery, will have 307 apartments, 14 town homes and a 5,300-square-foot restaurant site. The formerly industrial 5-acre site is sandwiched between West Vickery and Interstate 30.
Construction will begin in early 2024.
“I’m thrilled to bring this project forward in this very challenged capital markets environment,” said Chad Colley, Trademark’s multi-family and mixed-use partner, in a release. “The Vickery prevailed because of the strong demand drivers in Fort Worth and Trademark’s reputation for creating highly amenitized mixed-use environments.”
Colley said he expects increased demand for high-quality apartments in the coming years.
“The Vickery will be poised to satisfy this demand for top-quality housing with unmatched amenities,” Colley said.
The complex will be across Vickery Boulevard from the smaller Magnolia Lofts On Vickery, which was built out of a historic industrial building, and not far from Burnett Lofts, which opened on the north side of Interstate 30 in late 2021.
The Vickery’s amenities will include a pickleball court, co-working lounge, a pool, two dog parks, a rooftop lounge, a public green space and electric vehicle charging stations.
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“Over the last 30 years, we have partnered with numerous multifamily developers in creating vibrant mixed-use communities that provide a wonderful quality of life for residents,” said Terry Montesi, founder and CEO of Trademark, in a release. “We are thrilled to have launched our own multifamily platform with The Vickery and apply our best practices in design and placemaking to create a quality living experience that is truly unique.”
Trademark’s main capital partner on the project is SCOA Real Estate Partners under the advisement of commercial real estate firm Walker & Dunlop. First United Bank granted the developer a $61 million construction loan for the project.
“We are excited to partner with Trademark Property Company to develop The Vickery,” Joe Zagranski, President and CEO of SCOA Real Estate Partners, said in a release. “This development is meticulously designed, and we look forward to building a community where our future residents will be happy to call home and all stakeholders will be proud.”
Trademark assumed leasing and property management of the Left Bank shopping center east of Montgomery Plaza on Fort Worth’s West Seventh Street back in October.
The firm announced last month that brunch restaurant First Watch will be the latest tenant in its 63-acre Waterside development off Bryant Irvin Road and Arborlawn Drive. The retail center sits along Fort Worth’s Trinity River Trail in southwest Fort Worth near Chisholm Trail Parkway.
Trademark’s portfolio also includes Lincoln Square in Arlington and the Galleria shopping mall in Dallas and other developments across the country.
The Fort Worth-based real estate services firm has managed $4.6 billion worth of real estate through investment and development of 21 million square feet of mixed-use, retail and multi-family property.
