New multi-family development springs up in booming Austin suburb
A new housing community is springing up in the popular Austin suburb of Dripping Springs. Lookout, a multi-family rental development, is now under construction and is slated to open in late 2024.
Austin-based Wayfinder Real Estate recently broke ground on the 241-unit community, which is touted as one of the only multi-family projects underway in the greater Dripping Springs area.
A release also touts the project as a "more affordable alternative to single-family homeownership in Dripping Springs, where the population has more than doubled over the last decade and the median home price has soared to $905,000."
“Dripping Springs has long attracted young families due to its excellent schools and small-town charm in the middle of the Texas Hill Country,” says Wayfinder co-founder Mac McElwrath. “With home prices already out of reach for many households and interest rates rising, more people than ever are looking to rent but few apartments are available.”
Among Lookout's 241 rentable units will be one-, two-, and three-bedroom apartments, as well as townhomes, says the release.
The project is geared towards young families and young professionals, and boasts a seven-acre footprint and panoramic Hill Country views. It offers proximity to popular area restaurants like Pieous, Torchy's Tacos, and The Switch, as well as a new H-E-B grocery store that will open on the former site of the Nutty Brown Amphitheater.
The Lookout itself will take shape at 13059 Four Star Blvd., the former site of Trudy’s Four Star restaurant. Rental rates have not yet been released by the developer.