Social: The first portion of the project is set to open June 7, and other parts will open throughout the year, as the husband-and-wife developers work to develop the remaining 85 acres
Iva Wolf McLachlan and her husband, Donald McLachlan, have hit the halfway mark for their massive mixed-use development in Austin’s fastest growing suburb.
Their firm, Wolf Lakes, is at the helm of Wolf Lakes Village — a 164-acre planned community in Georgetown with retail, restaurants, hotels, multifamily, a cinema, office space and medical. Even with 85 acres left to develop, a portion of the project is set to open June 7, and more will follow throughout the summer, the Austin Business Journal reported.
Wolf Lakes Village is sprouting up at the northwest corner of Interstate 35 and State Highway 29, about 30 miles north of downtown Austin. Iva’s late father, Jay Wolf, owned 110 acres of the site before purchasing the remaining 54 acres by 2004. For the McLachlan’s, patience has been key.
“We just knew we owned some extraordinary land, and we weren’t willing to just settle for an average cookie-cutter development,” Iva McLachlan told the outlet. “We have held out to do something extraordinary, and the city has supported us on it.”
Grocery chain H-E-B will open its 121,000-square-foot store at the site on June 7, and Ascension Seton will open a 60,000-square-foot medical office on 12 acres about a month later. The developers are in no rush to open other portions of the development, as they’re waiting for the right businesses to fill the retail and office buildings.
The next phase of the project will be devoted to common space. That will include an open-air amphitheater, another lake, a bell tower, a plaza, a boutique hotel and high-end restaurants and retail.
Construction has started for the residential portion, dubbed Wolf Lakes Village. The couple previously said that it could house up to 5,000 residences, comprising apartments and townhomes.
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Houston-based developer Hines is building a 336-unit apartment complex on a 12-acre tract. Just north of that, Novak Brothers is turning a 12-acre parcel into Rise510 — a luxury apartment with 301 units, a fitness center, swimming pool and park. Rise510 is slated for completion in summer 2024, the outlet said.
The total cost of the project wasn’t disclosed, but it has received incentives from Georgetown and Williamson County. In total, the developers could get reimbursed up to $130 million for public infrastructure work.
—Quinn Donoghue