As you may have noticed, there is a lot of development going on in the Lake Travis area — except for the development of roads.
On the commercial side of real estate, we are experiencing a boom in hotels because of an occupancy rate for Austin that came in at 72.3 percent for 2014 — a very healthy rate. The City of Austin and surrounding area continues to be a hot bed for business and recreation.
In the Lake Travis area, we have numerous hotel developments that are popping up, from a Sonesta Hotel Bee Cave to a Residence Inn Marriott at River Place. There’s a new CVS pharmacy under construction in Four Points at the intersection of 620 and 2222 with a 5-acre tract available for development and the possibility of another hotel … or restaurant, assisted living facility or another medical project.