YP Deal: Sale of 123-Acre Lake Travis Waterfront Property with 80-Slip Marina
After a complicated deal process, Waterford Lago Vista LLC acquired 123 acres, which includes waterfront property and an 80-slip marina on Lake Travis, just outside of Austin. The land sale will allow the investor to also own and develop four phases of the Waterford at Lake Travis, which includes 49 ready-to-go lots for single-family home development, as well as larger vacant land tracts.
The buyer, Waterford Lago Vista LLC, was represented by Tate Chiles with NB Elite Realty. The seller was represented by Younger Partners brokers John St. Clair, Robert Grunnah and Michael Ytem.
“The buyer recognized the untapped potential of this beautiful Lake Travis community,” Chiles says. “The new ownership believes it is the right time and the right location in the path of growth of Central Texas. Waterford Lago Vista LLC looks forward to the possibilities that lie ahead and is in the process of making plans to revitalize the subdivision and increase building activity.”
“Waterford at Lake Travis, located along the north shore in the highly desirable Hill Country, just outside of Austin, is a great location. This deal was distinctly underrated by the Austin market and required a very sophisticated approach to see the potential for investment and this buyer recognized that,” Grunnah says.
St. Clair says Waterford was extensively planned, engineered, and partially developed, but the timing 10 years ago wasn’t ideal for the project. Since that time, there is now a wealth of amenities, shopping, and restaurants located along the north side of Lake Travis.
This offering included four phases all within the Lago Vista Extra Territorial Jurisdiction (ETJ) with 49 developed lake lots with great views as well as acreage to develop more lots. The buyer of Waterford also inherits participation in the Municipal Utility District.
“The developed lots are within an established, partially sold development and are configured to meet the market demand,” St. Clair explains. “The scenic country surrounding the development and lake views from these home sites are impressive as are recreational opportunities surrounding the development including the contiguous marina.”
Lago Vista was incorporated in 1984 as a lakeside resort community with homes, condominiums, golf courses, and the marina. The community encompasses more than 15 miles of Lake Travis shoreline with a population of about 5,000 residents.
“The quality of life in this community is extraordinary whether the homeowners are retirees, looking for a second home, or those benefitting from telecommuting. Working from your gorgeous lake home makes that occasional commute to Austin enjoyable,” St. Clair says. “We are confident this will be a great investment for the new owners and we look forward to listing and selling more projects in Central Texas.”