With the weather warming up and spring finally arriving in Lake Travis, the pace of construction in the area has quickened, so we decided to take a visual stroll to see what’s buzzing. From the Sonesta Hotel in the Hill Country Galleria to the first phase of framing at the Oaks at Lakeway, the new businesses headed our way will be open before we know it.
Despite the cold snap, construction has been moving right along at the Oaks at Lakeway site. This highly anticipated $70 million, 250,000-square-foot project has had Lake Travis residents buzzing for a while, so seeing a concrete slab is rather exciting.
Plus, new tenants are falling into place like Torchy’s Tacos and High 5 Family Entertainment. We’ve also heard that the H-E-B is launching a unique concept at this location which will include full bar service and an eatery.
We’ve covered just about all of the development news we could find in the Bee Cave and Lakeway area, so now it’s time to talk about the new entertainment and business district taking shape at 8300 N. RR 620 — Trails at 620.
If you’ve driven by lately, you may have noticed new buildings popping up. And if you haven’t been there lately, you need to check it out. It has been dubbed an “entertainment district” because it’s home to restaurants, a movie theater, shopping and more. Now we’re getting a better idea of exactly what the “more” will be and how it will all mesh nicely together for the community.
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.
We all know the Lake Travis area is booming with growth. And while we may have to experience a few growing pains a long the way, the promise of a bright future outshines the frustrations. The last piece of undeveloped property (130 acres) located behind the new Oaks at Lakeway is being considered for a unique arts district that will give Lake Travis residents a cultural beacon of its own.
What’s important for Lake Travis residents to know is the amount of care involved in this decision. The City of Lakeway has a rare opportunity to determine how the land will be used. And they fully understand it is the last huge stretch of property located in the epicenter of a growing and thriving community. It’s not a question of what should that land look like, but a question of what is our vision.