A trip to Tuscany won’t be too far for those living in the Lone Star State.
Dallas-based developer Hoque Global is building a 600-acre Tuscan-style community between Waco and Austin in Central Texas, the Dallas Morning News reported. The project, called The Vineyard at Florence, includes more than 1,000 homes surrounding an existing resort and vineyard.
The development is 50 miles northwest of Austin near the town of Florence in Williamson County. Vineyard owner Kris Davis partnered with Hoque Global CEO Mike Hoque on the project, the newspaper reported.
“Our work at The Vineyard at Florence has been quiet and steady, with incremental success and growth,” Hoque said in a statement to the publication.
Hoque Global, which has several real estate projects in the downtown Dallas area, has been selling one-acre to three-acre home lots surrounding the existing vineyard since last summer.
“The Vineyard at Florence has gone from a quaint countryside boutique resort to a sophisticated lifestyle venue and community that has far exceeded our expectations,” Davis said.
The development is on the outskirts of the bustling Austin metro, which has been the fastest-growing metro for the past decade. As a result, home prices are skyrocketing and people are moving to the suburbs for lower costs, more space and to find housing availability.
In the Austin-Round Rock area, median home sales value jumped 22 percent to $521,000 in March — and set a record with a median of $624,000 within Austin city limits.
[DMN] — Kathryn Hardison
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