LIFE IN LUXURY COMING SOON
545-acre development in Northwest Austin suburb gets county approval
It’s no secret that Austin’s rapid growth over the years has created a need for more housing, and one development company has headed west to accomplish this. Luxury real estate developer Areté Collective received approval from Burnet County for preliminary development plans for about 545 acres of Thomas Ranch lands in Spicewood, just northwest of Austin.
Located just half an hour from downtown Austin, Thomas Ranch is a 2,200-acre master-planned community that aims to provide “new and innovative housing options to the Greater Austin area,” according to Areté Collective CEO and co-founder Rebecca Buchan in a release. The initial plat, or property line maps, includes arrangements for 43 residential lots on nearly 27.5 acres of land, with the remaining acreage set aside for future development expansions on Thomas Ranch.
One of the milestone goals highlighted by Buchan is the collective's ability to make significant progress on the project after its acquisition just over a year ago. When it’s finished, Thomas Ranch will have 3,500 new housing units, a private club and golf course, schools, a resort hotel, and 250,000 square feet of commercial space for Austin businesses and restaurants in an anticipated walkable downtown district.
“We are committed to bringing a global expertise to collaborations with local leadership and business partners to benefit the local economy and community,” Buchan said in a statement.
Austinites will be able to take their pick from a variety of single- and multi-family homes, apartments, senior living, and affordable housing based at different price points. The ranch will also seek to provide residents with an “outdoor lifestyle” that displays the beauty of Lake Travis and the Hill Country, some of the most desirable Austin suburbs.
The final approval process for the Thomas Ranch development will begin later this year, after which the first sale of 450 private residential units will take place. More information about the development can be found at thomasranchtx.com.