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Austin

Latest lagoon-anchored development eyed for Hill Country

Luxury residences, retail, restaurants around 3 acres of water in Spicewood

Lagoon-Anchored Development Headed For Austin Suburb
Crystal Lagoons’ Fernando Fischmann with the Ascensions on Lake Travis in Spicewood (Fernando Fischmann, Ascensions on Lake Travis, Getty)

A lagoon is the proposed centerpiece of a master-planned community northwest of Austin in the Texas Hill Country.

Miami-based Crystal Lagoons US Corp. has licensed its technology to Austin Real Estate Ventures to create a 3-acre crystalline lagoon, anchoring the Ascensions on Lake Travis development in Spicewood, the Austin Business Journal reported. 

Officials are hopeful that the project will have better luck than another lagoon-anchored development in the north Austin suburb of Leander. Crystal Lagoons licensed its technology to iLand Development Group on that $1 billion project, which faces a murky future after the developer failed to meet certain construction timelines, upending the incentives package that was in place. 

Plans for the Spicewood development include luxury residential units, retail, restaurants, event areas and a hotel. The lagoon would be open to the public, with ticket prices ranging from $25 to $40.

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Despite some concerns stemming from the Leander project and others throughout the state, Ivan Manzur, senior vice president of sales for Crystal Lagoons, insists that the Leander project is still alive and that delays are common in real estate development.

Crystal Lagoons is involved in more than 70 projects that are in various stages of development throughout Texas. The company’s technology is highly efficient, using significantly fewer chemicals and energy than conventional swimming pools, and less water than both water parks and golf courses, Manzur said. 

Water conservation is a pressing concern in the region, with Lake Travis currently at just 41 percent capacity due to ongoing drought conditions. Crystal Lagoons’ minimal water usage and environmental sustainability aims to address these concerns.

—Quinn Donoghue 

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Development
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Future murky for $1B lagoon-anchored development in Leander
A rendering of Leander Springs and Ivan Manzur of Miami-based Crystal Lagoons US Corporation (Leander Springs, LinkedIn, Getty)
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Tags
LagoonMixed-useMultifamilyRetail

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