Lago Vista is a city that is Northwest of Austin. The planned retirement community had a lot of promise during the pre-"tech bust" era of the city. Just as the community was being built, the bottom fell out of the tech markets and foreclosures peaked.

I was just speaking with a friend two days ago about Lago Vista. We were discussing the limited availability of low-cost land near Austin. I told him that I think it’s time for Lago Vista to appreciate, but that I hadn’t really been tracking the market. I’d heard that Lago was making a comeback, so promised to look further into the area.

According to an article printed in the Austin Statesman last Friday, a Dallas-based developer is has purchased "The Falls at Lake Travis"… a 315-acre tract on the
shoreline of Lake Travis. The company is proposing 510 single-family
homes and townhomes on the wooded, hilly terrain. The Falls tract also
includes some 3,000 feet of shoreline property.  WY Atlantis intends
to create a highly amenitized residential community with a clubhouse,
resort-style pool, more than 120 acres of open space and
three-and-a-half miles of trails. Homes are expected to be priced from
the $300s to more than $1 million.  The Falls at Lake Travis is
located in the Lago Vista Extraterritorial Jurisdiction, approximately
a 40-minute drive from downtown Austin.

Talk about good timing. Investors may want to start paying attention to this area. Read the full story: Statesman.com: Developer Plans 510-Home Community in Lago Vista

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This entry was posted on Monday, September 25th, 2006 at 12:49 am and is filed under Austin Real Estate News, Hot Issues and Alerts. You can leave a response, or trackback from your own site.