One of Austin’s most luxurious new developments now has a price tag to match.
The Four Seasons Private Residences Lake Austin will cost an estimated $830 million to build, according to a new filing with the Texas Department of Licensing and Regulation. While TDLR plans are preliminary and can change over time, the filing offers insight into a much-watched project more than six years in the making.
The construction plan details six residential buildings with just over 1 million square feet of space, as well as a host of shared amenity facilities. The project will create 179 homes ranging from 1,900 square feet to four-bedroom spreads. Work is scheduled to begin in June and run through 2026.
The Four Seasons will have plenty more space to sprawl. The project’s developers own 145 acres at a bend in the Colorado River just west of the North Capital of Texas Highway. Some 90 acres will go toward a nature preserve and public park.
Hines and Austin Capital Partners are heading up development, while Four Seasons Hotels & Resorts will lead amenities. In the gym alone, those include four pickleball courts, a 300-foot infinity pool, two golf simulators, and an indoor basketball court. On top of the 75,000-square-foot gym, residents can access two clubhouses — one will sit on the lake, while the other will span 240,000 square feet, farther up on the property.
In a first for the Austin area, the project will include a hillside funicular that ferries residents from the clubhouse overlooking the lake down to a private marina.
Full financing plans for the project could not be determined. The developers have a $45 million loan from Bank OZK, according to documents signed in September. The Little Rock-based lender has been very active in recent months, dishing out nine-figure loans to developers in New York, Miami and Texas. In April, the bank lent $300 million to Lincoln Property Company and DivCo for their 833,000-square-foot office tower in Austin.
A representative for Austin Capital Partners forwarded TRD to a public relations representative, who didn’t immediately respond to an interview request.
The developers acquired the development site in 2017, deed records show. Since then, details of the project have trickled out, including renderings and a website. Homes will ask $4 million or more, according to a 2021 news release.
Fredrik Eklund and John Gomes of the Eklund Gomes Team and Douglas Elliman Development Marketing is heading up marketing, along with Austin-based Eric Moreland Group with Moreland Properties.
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