LAKEWAY/ BEE CAVES AREA IS GROWING!
Ranch Road 620
1. The Oaks at Lakeway – New Town Center of Lakeway. A total of 175,000 SF of retail space is planned. HEB has been open for several weeks. A total of 13 new businesses have signed leases to move in to the center, including several restaurants. Tenants to date include: HEB, High Five, Trattoria Toscano, Factory Mattress, Level 12 Salon, MOD Pizza, Twin Liquors, Pro Nails, Orange Leaf Yogurt, MAD Greens, Torchy’s Tacos, Subway, Asia Cafe, McArthur’s Restaurant, Raising Cane’s and Engel & Voelkers.
2. Lakeway Medical Center Village – The Harbor at Lakeway is a 150-room assisted living center now open. The Goddard School of Lakeway pre-school and day care is about to open. The 125-room independent living facility under construction behind The Harbor. Newest planned is an 80-90 room La Quinta and similar sized Marriot hotel.
3. Gateway at Falconhead Business Park – New office/ retail development under construction south of Falconhead Boulevard along the frontage of RR 620. The development includes 80,000 SF of office space in 6 buildings and 46,000 SF of retail space in 7 buildings. The buildings will be two-stories with a planned completion of June 2016.
4. The Backyard – New development approved by the City of Bee Caves to include 335,000 SF of office, 125-room hotel, 16,000 SF of meeting/ restaurant space, 4 firm and recording sound stages, 3,410 person capacity Live Oak Amphitheater, 500-person capacity private party venue and 2 parking garages.
5. The Terrace – New development approved by the City of Bee Caves to include 250,000 SF of office, 120-unit Ethan’s View Condominium project and 6,500 SF of restaurant space.
State Highway 71 West
1. Summit 56 Complex – Located on SH71W near Vail Divide currently has Nitro Swim Center and Hill Country Guitar & Golf, proposed Covert GM Auto Dealership (was proposed to be BMW Auto Dealership at one point) plus has site plan approval for two 4,500 SF fast-food restaurants and a 5,000 SF of convenience store space with gas pumps.
2. Canyonside at Falconhead West – Ash Creek Homes newest Master-planned Community at the northwest corner of SH71W/ Vail Divide with 60-70 homesites. LTISD also owns 100 acres across SH71W with 30 acres currently transportation facility and remaining 70 acres planned for 2nd Lake Travis High School.
3. The Mansions of Lakeway – New 300+ unit luxury apartment complex is under construction at the northeast corner of SH71W/ Serene Hills Dr. Units will range from 800 to 2,500 SF. Intersection also includes the two-story 24,000 SF retail/ office building space which recently got approved for a 15,000 SF joint replacement medical center. The northwest corner is still owned by HEB.
4. LTYA Field of Dreams Two – Conceptual 70-acre master-planned sports complex to include 10 soccer/ lacrosse fields, 9 baseball fields, 3 softball fields, 13 batting cages, 3 sand volleyball courts, 3 football fields, 2 playscapes, two-story indoor basketball/ volleyball building and 2 perimeter hike-bike trails and one zipline to connect to the new Lake Travis Middle School.
Source: Ross Frie, KW Commercial