You have reached your limit of free articles this month.

Enjoy unlimited access to myStatesman.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myStatesman.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myStatesman.com.

180-home development planned near Lakeline Mall


Highlights

David Weekley’s townhouses will be part of 130-acre Austin Presidio master-planned project.

First houses are due to open later this year, priced from the $400,000s.

David Weekley Homes has purchased 15 acres near Lakeline Mall and the commuter rail station in far Northwest Austin to build a project with 180 high-end townhouses.

The land that the Houston-based homebuilder acquired is part of Austin Presidio, a 130-acre master-planned development that will add more than 5 million square feet of commercial and residential development in a growing part of the Central Texas region. David Weekley did not disclose the purchase price of its land acquisition.

The first houses are due to be completed in the third quarter of this year. Pricing is expected range from about $300,000 to more than $500,000, said Steve Williamson, a managing director with the commercial real estate firm Transwestern.

Williamson represented Presidio’s owner, Las Vegas-based Diversified Real Estate Group, in the land sale, as well as the buyer, a partnership controlled by David Weekley Homes.

David Weekley’s land is on the north side of Texas 45, east of Lake Creek Parkway and just south of the Lakeline Mall CapMetro Station. The land is adjacent to The Michael, a 410-unit apartment community developed by Dallas-based Streetlights Residential that began leasing its upscale units in September.

Streetlights Residential also built The Catherine, an apartment tower adjacent to the Hyatt hotel on the south shore of Lady Bird Lake near downtown.

The Presidio site “is one of the premier locations in Northwest Austin, which has seen increasing demand for quality housing that is within biking distance to shopping, dining and entertainment and has access to public transportation like the Lakeline Metro Rail station, which is across the street,” Ian Dietrich, land manager at David Weekley Homes, said in a written statement.

David Weekley Homes has started building streets and utilities for the new community. The homes will have energy-efficient designs, private yards and open floor plans, and amenities will include a pool, pavilion and open spaces.

Along with David Weekley’s homes and Streetlights’ apartments, the Presidio development calls for two hotels, corporate and medical uses, multiple restaurants and neighborhood retail.

“We’re talking with various users right now,” Williamson said.

Presidio kicked off its first phase in 2015, which includes the extension of Lakeline Mall Boulevard and the addition of a roundabout at Lakeline Mall Boulevard and Lyndhurst Drive,which connects Texas 45 with the commuter rail station.



Reader Comments ...


Next Up in Business

Business Digest: Pollo Tropical closes all Austin, Dallas locations

RESTAURANTS Pollo Tropical closes all Austin, Dallas locations Pollo Tropical has closed 30 restaurants nationwide, including all of its locations in the Austin area. The chicken chain said Monday that it is also pulling out of the Dallas/Fort Worth and Nashville, Tenn., markets. There were three locations in Central Texas: • 211 S. Lamar Blvd...
Delta adding nonstop flights between Austin and Boston
Delta adding nonstop flights between Austin and Boston

Austin’s airport is getting nonstop flights to yet another destination. This time around, Delta Air Lines is adding service from Austin-Bergstrom International Airport to Boston. The new flights kick off Sept. 11. Delta says service will be six days a week using newly upgraded Airbus A319 jets with free onboard entertainment offerings for all...
Advocates push for hearings on stalled medical marijuana bills
Advocates push for hearings on stalled medical marijuana bills

Dr. Robert S. Marks says he routinely faces a dilemma when cancer patients and others dealing with chronic pain broach the topic of marijuana as a treatment option. “You’re in a very tough position between what the law tells you to do, and what your (medical) oath tells you to do,” said Marks, who operates two pain management clinics...
Rising sales at retail stores keep state’s service sector growing
Rising sales at retail stores keep state’s service sector growing

Texas retailers reported a sixth consecutive month of rising retail sales during April, helping extend the long streak of expansion across the state’s service sector, according to a report Tuesday from the Federal Reserve Bank of Dallas. The state revenue index, a key measure of activity among private, service-providing firms in Texas, ticked...
Nordstrom selling work jeans covered in fake mud for $425
Nordstrom selling work jeans covered in fake mud for $425

  After it was ridiculed for selling designer rocks at Christmas, Nordstrom may have topped itself with its latest offer. The department store is offering a pair of jean covered in fake mud for a whopping $425. The retailer described its new Barracuda Straight Leg Jeans on its website as "rugged Americana workwear that's seen some...
More Stories