Starwood Lists Land in Development Near Austin Airport

Starwood Capital Group is letting other developers in on the action at an upcoming master-planned community in southeast Austin. 

Miami-based Starwood listed 230 acres for sale at its 1,400-acre Revelry development in Del Valle, a community about 10 miles from downtown, the Austin Business Journal reported.

There are 16 parcels for sale within the community to be built at the intersection of Pearce Lane and Wolf Lane. The land ranges in designated use from commercial to multifamily to retail. Avison Young’s Mike Kennedy, Sullivan Johnston and James Nelson have the listings. 

At full build-out, Revelry will have 2,300 single-family homes as well as multifamily and commercial development. Brightland Homes, Perry Homes, David Weekley Homes, Highland Homes, Coventry Homes, Toll Brothers and Lennar have already signed on to build at the community. 

Del Valle is an unincorporated area with a population of about 29,000 at the edge of Austin-Bergstrom International Airport. It’s known for being home to the Circuit of the Americas, the race track that hosts the Formula One U.S. Grand Prix. 

Revelry, formerly known as Mirador, is one of the developments Starwood purchased from Hines earlier this year in an $800 million deal that included 11 communities. In addition to Revelty, the portfolio includes seven DFW properties and three in Houston. 

During this economic cycle, master-planned communities have been shielded from the doldrums of the housing market, but, midway through this year, they started to feel the pain, too. 

New home sales in the country’s top master-planned communities dropped nearly 7 percent between June 2024 to June 2025, according to real estate consultant RCLCO. That’s about on par with new homes in the overall market, which posted a 6.6 percent decline during that period. 

Texas is the second-largest market for master-planned communities in the country, making up 34 percent of the top 50 master-planned communities, per RCLCO. At the city level, Houston takes the crown.  

– Jess Hardin

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