The details
Developer Bill Hayes with W Hayes Ventures said the project will offer nine duplexes and one triplex. The buildings will all be three stories, with a garage on the first floor, living areas on the second floor and bedrooms on the top floor.
The average square footage is estimated to be smaller than the other “for sale” residential housing in the center at around 1,700 square feet, Hayes said. This allows the project to be priced more affordably for the Lakeway area at around mid-$700,000s, Hayes said. The median home price for homes sold in Lakeway in April was $850,000, according to Unlock MLS data.
“It’s very difficult to find anything [in the] Lakeway or Lake Travis school district that’s new construction that hits that price point [and] at the same time is going to be walking distance to the future town square, walking distance to an elementary school, short drive to the hospital,” Hayes said.
The background
Lakeway’s upcoming City Center, also known as The Square at Lakeway, broke ground in late 2022. Plans outline a variety of residential and commercial projects, including both single family residences and multifamily units.
What’s next?
Vertical construction on the project is expected to begin in the beginning of next year, with anticipated completion around two years after that, Hayes said.
