Harbor Custom Development Inc.
07/07/2021 | Press release | Distributed by Public on 07/07/2021 12:27
Developer homes in on Horseshoe Bay, drops more than $20M
By Michelle Pitcher - Staff Writer, Austin Business Journal
Washington-based Harbor Custom Development Inc. is expanding its presence in Central Texas.
The developer recently bought 108 single-family lots in Horseshoe Bay, as well as 31 acres of commercial and residential space.
The 108 single family lots are near the Summit Rock Golf Course, designed by retired golf legend Jack Nicklaus. The custom single-family homes will range from $800,000 to $2 million, on lots from a quarter of an acre to an acre and a half.
The developer invested $17,165,000 in the single-family lots.
In the Stone House community of Horseshoe Bay, the developer purchased 31 additional acres, rezoning 28 to residential. According to Harbor CEO and President Sterling Griffin, the developer is planning a slate of diverse home options, from 1,800-square-foot cottages to estates in the 4,000-5,000 square foot range.
Rick Town with Modern Homestead is the builder partner for the project, as well as Harbor's other ongoing projects in Dripping Springs and Driftwood.
Horseshoe Bay is a little more than 50 miles west of Austin, on Lake Lyndon B. Johnson. The city has a population of around 4,000 and is a well-known vacation spot for locals. In addition to the golf course, it's home to the upscale Horseshoe Bay Resort.
It's not just Austin residents who flock to the city in the Hill Country - now, Dallas-area residents can get a flight directly to the resort from Dallas Love Field airport.
As travel becomes more commonplace following the lifting of Covid-19 restrictions, Horseshoe Bay's most famous attractions are also getting a facelift. The resort is currently undergoing a $100 million renovation.
It's not all vacationers, though. For years, Horseshoe Bay has drawn residents who are retiring or aging out of the more populous city centers. The pandemic changed the demographics of prospective buyers to include anyone who can work from home, according to Patty Gillean, broker and a partner in Horseshoe Bay One Realty.
Gillean said Austin traffic and taxes have driven a lot of people farther west to places like Horseshoe Bay. Comparatively low lot prices also yielded newcomers.
The median house price in Horseshoe Bay was up 34% year-over-year at the end of May, while active listings were down 77%, according to the Texas A&M Real Estate Center. The city had 1.4 months of housing inventory in May, which is the lowest Gillean has seen since she started selling real estate in the city in 2007.
READ THE ENTIRE ARTICLE HERE
Washington-based Harbor Custom Development Inc. is expanding its presence in Central Texas.
The developer recently bought 108 single-family lots in Horseshoe Bay, as well as 31 acres of commercial and residential space.
The 108 single family lots are near the Summit Rock Golf Course, designed by retired golf legend Jack Nicklaus. The custom single-family homes will range from $800,000 to $2 million, on lots from a quarter of an acre to an acre and a half.
The developer invested $17,165,000 in the single-family lots.
In the Stone House community of Horseshoe Bay, the developer purchased 31 additional acres, rezoning 28 to residential. According to Harbor CEO and President Sterling Griffin, the developer is planning a slate of diverse home options, from 1,800-square-foot cottages to estates in the 4,000-5,000 square foot range.
Rick Town with Modern Homestead is the builder partner for the project, as well as Harbor's other ongoing projects in Dripping Springs and Driftwood.
Horseshoe Bay is a little more than 50 miles west of Austin, on Lake Lyndon B. Johnson. The city has a population of around 4,000 and is a well-known vacation spot for locals. In addition to the golf course, it's home to the upscale Horseshoe Bay Resort.
It's not just Austin residents who flock to the city in the Hill Country - now, Dallas-area residents can get a flight directly to the resort from Dallas Love Field airport.
As travel becomes more commonplace following the lifting of Covid-19 restrictions, Horseshoe Bay's most famous attractions are also getting a facelift. The resort is currently undergoing a $100 million renovation.
It's not all vacationers, though. For years, Horseshoe Bay has drawn residents who are retiring or aging out of the more populous city centers. The pandemic changed the demographics of prospective buyers to include anyone who can work from home, according to Patty Gillean, broker and a partner in Horseshoe Bay One Realty.
Gillean said Austin traffic and taxes have driven a lot of people farther west to places like Horseshoe Bay. Comparatively low lot prices also yielded newcomers.
The median house price in Horseshoe Bay was up 34% year-over-year at the end of May, while active listings were down 77%, according to the Texas A&M Real Estate Center. The city had 1.4 months of housing inventory in May, which is the lowest Gillean has seen since she started selling real estate in the city in 2007.
READ THE ENTIRE ARTICLE HERE