The 22.5 acre site on W. Hwy. 71, two miles west of the Hill Country Galleria in Bee Cave, is just one more retail project to add to the list of developments in the Bee Cave and Lakeway areas.
The project is slated to cost $1.4 million and is expected to include several restaurants, banks and other service providers.
It is no surprise that Bee Cave and Lakeway are feeling the impact of the robust growth that Austin is currently experiencing. In fact, the entire Austin metropolitan area is growing at a rapid rate due to our strong economy and the healthy forecast for the years to come.
Moreover, it was predicted during the Angelou Economic Forum that Austin’s population would double by 2040 to about 4 million people, 29,000 jobs would be created in 2014 and about 18,500 homes would be built in the next two years. This is quite a change from the steady and quiet expansion we have seen in past years.
The development explosion just in our Bee Cave and Lakeway areas include (but are not limited to) the following:
- The Backyard in Bee Cave – set to include six movie and television production sound stages, three office buildings, a 125- to 150-room hotel, a 6,000-person standing capacity amphitheater, a 2,000-person standing capacity amphitheater, restaurants, shops, two parking garages, water features and a nature trail system.
- The Terrace in Bee Cave – proposed as grounds for Supernature Studios and has plans to include four sound stages with attached office space, a mill, two office buildings, three residential condominium buildings with a parking garage below, three free-standing parking garages, restaurants and retail in the residential and office buildings overlooking preserve land.
- Lake Travis ISD – two new schools are scheduled to open for the 2014-2015 school year and include a new Lake Travis Middle School and West Cypress Hills Elementary School.
- The Oaks at Lakeway – the 250,000 square foot downtown center at the corner of Hwy. 620 and Glen Heather Drive is scheduled to open in mid-2015 and will include an HEB, restaurants, shops, green space, a pond, trails and will be golf cart accessible.
- Revival Square in Bee Cave – this outdoor mall will feature a 110 year-old church from Ohio and will cover a 2.25-acre parcel on Hwy. 71. A vegetable market, soda shop, bookstore, compounding pharmacy, vintage arcade and clothing store are planned for this development.
- Trails at 620 Phase 2 – this section of the Trails at 620 complex will feature two medical buildings, two retail sites, a credit union and two restaurants. Completion is scheduled for mid-2015.
The Lake Travis area is growing fast and furious, so please make sure you check back often to find out what else is happening around town!
My team, The Gibbs Team, and I would be honored to represent you in any and all of your real estate needs. Please contact Mary Lynne at 512.431.2403 or at austinluxurybroker@gmail.com.
