National real estate developer, investor, and operator, Trademark Property Company, has closed on the land and secured the financing for The Vickery, a multifamily-led mixed-use community located on five acres at W. Vickery Boulevard and Hemphill Street overlooking Downtown Fort Worth.
The community will consist of 307 apartments, 14 townhomes, and a 5,300-sf standalone restaurant building with a second story lounge. The residences will feature high-end, luxury finishes and a best-in-class amenity package, including a large public green space, a pickleball court, two dog parks, a co-working lounge, electric vehicle charging stations, a rooftop lounge, and a heated resort-style pool.
The Vickery will serve the fast-growing population at the edge of downtown and the Near Southside district, which has evolved into a highly walkable neighborhood with popular restaurants, bars, breweries, and coffee shops. The City of Fort Worth helped establish a Tax Increment Finance District (TIF) which will pave the way for improved sidewalks, lighting, public spaces, and other upgrades to the surrounding infrastructure. Additionally, the City recently completed the Hemphill Streetās pedestrian and vehicular connection, further enhancing the siteās connectivity to downtown.
The Vickery: Multifamily community coming to Fort Worth, Texas
The multifamily buildings at The Vickery will be designed, constructed, and operated to be healthier, more comfortable, more durable, have lower operating costs, require less maintenance, and promote a sustainable way of living. The projectāalong with all future Trademark multifamily developmentsāwill adhere to National Green Buildings Standards (NGBS), which positions properties to meet the needs of the current and future market and qualifies for a LEED Bronze certification.
The construction process accounts for resource efficiency, both energy and water, site selection, indoor environmental quality, and operational efficiency among other factors. Construction is expected to begin early this year. The Dallas and Fort Worth offices of the prominent regional design firm GFF Architects serve as the project architect.
Trademarkās multifamily and mixed-use partner, Chad A. Colley, said, āIām thrilled to bring this project forward in this very challenged capital markets environment. The Vickery prevailed because of the strong demand drivers in Fort Worth and Trademarkās reputation for creating highly amenitized mixed-use environments. Given the coming shortage of new construction, we expect a surge in demand for high-quality multifamily housing in the coming years, and The Vickery will be poised to satisfy this demand for top-quality housing with unmatched amenities.ā
First United Bank provided the $61 million construction loan for the project, while SCOA Real Estate Partners serves as the primary capital partner. The Walker & Dunlop Texas-based Capital Markets teams, led by Heather McClure and Jonathan Paine, advised Trademark on the development joint venture with SCOAREP.
āWe are excited to partner with Trademark Property Company to develop The Vickery,ā said Joe Zagranski, President and CEO of SCOA Real Estate Partners. āThis 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.ā
Terry Montesi, Founder and CEO, Trademark, remarked, āOver 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. 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.ā
In addition to The Vickery, Trademark is nearing completion of design and entitlement for three other developments that will be part of its formidable multifamily/mixed-use platform.
Trademarkās current portfolio includes Galleria Dallas, Lincoln Square, Left Bank, WestBend, Waterside, 5000 S Hulen and Alliance Town Center in Dallas-Fort Worth; Market Street ā The Woodlands in The Woodlands (Houston); Dunham Pointe in Cypress, Texas; La Palmera Mall in Corpus Christi, Texas; Zona Rosa in Kansas City, Missouri; Annapolis Town Center in Annapolis, Maryland; North Point in Alpharetta (Atlanta); and Perkins Rowe in Baton Rouge, Louisiana.
On the Building Team:
Owner/Developer: Trademark Property Company
Primary Capital Partner: SCOA Real Estate Partners
Advisor: Walker & Dunlop
Architect: GFF Architects
Related Stories
| Apr 6, 2012
Batson-Cook breaks ground on hotel adjacent to Infantry Museum & Fort Benning
The four-story, 65,000-ft property will feature 102 hotel rooms, including 14 studio suites.
| Apr 4, 2012
JCJ Architecture designs New York City's first casino
Aqueduct Racetrack complex transformed into modern entertainment destination.
| Apr 3, 2012
Luxury hotel 'groundscraper' planned in abandoned quarry
Would you spend $300 a night to sleep underground? You might, once you see the designs for China's latest hotel project.
| Mar 16, 2012
Temporary fix to CityCenter's Harmon would cost $2 million, contractor says
By contrast, CityCenter half-owner and developer MGM Resorts International determined last year that the Harmon would collapse in a strong quake and can't be fixed in an economical way. It favors implosion at a cost of $30 million.
| Jan 15, 2012
Smith Consulting Architects designs Flower Hill Promenade expansion in Del Mar, Calif.
The $22 million expansion includes a 75,000-square-foot, two-story retail/office building and a 397-car parking structure, along with parking and circulation improvements and new landscaping throughout.
| Dec 27, 2011
Ground broken for adaptive reuse project
Located on the Garden State Parkway, the master-planned project initially includes the conversion of a 114-year-old, 365,000-square-foot, six-story warehouse building into 361 loft-style apartments, and the creation of a three-level parking facility.
| Dec 19, 2011
Chicagoās Aqua Tower wins international design award
AquaĀ was named both regional and international winner of theĀ International Property AwardĀ as Best Residential High-Rise Development.
| Dec 12, 2011
Mojo Stumer takes top honors at AIA Long Island Design Awards
Firm's TriBeCa Loft wins "Archi" for interior design.
| Dec 5, 2011
Summit Design+Build begins renovation of Chicagoās Esquire Theatre
The 33,000 square foot building will undergo an extensive structural remodel and core & shell build-out changing the buildingās use from a movie theater to a high-end retail center.
| Nov 28, 2011
Leo A Daly and McCarthy Building complete Casino Del Sol expansion in Tucson, Ariz.
Firms partner with Pascua Yaqui Tribe to bring new $130 million Hotel, Spa & Convention CenterĀ to the Tucson, Ariz., community.