Fermi National Accelerator Laboratory (FNAL) and Lawrence Berkeley National Laboratory (LBNL) are building a new High Field Vertical Magnet Test Facility (HFVMTF) for testing superconducting cables in high magnetic field. The background magnetic field of 15 T in the HFVMTF will be produced by a magnet provided by LBNL. The HFVMTF is jointly funded by the US DOE Offices of Science, High Energy Physics (HEP), and Fusion Energy Sciences (FES), and will serve as a superconducting cable test facility in high magnetic fields and a wide range of temperatures for HEP and FES communities. This facility will also be used to test high-field superconducting magnet models and demonstrators, including hybrid magnets, produced by the US Magnet Development Program (MDP). The paper describes the status of the facility, including construction, cryostat designs, top and lambda plates, and systems for powering, and quench protection and monitoring.