Two large-scale residential developments flanking the Austin metro are set to deliver thousands of new homes as builders bet big on Hill Country demand.
Austin-based Masonwood Development secured a $106 million loan from Canadian lender Trez Capital to launch the second phase of its Provence community in the hills west of the city, the Austin Business Journal reported. The loan will fund phase two of the development, which will add 845 homes, bringing the community’s total to roughly 1,600. Construction is slated to begin early next year, with initial move-ins expected in 2026.
The 910-acre master-planned community, located off Hamilton Pool Road near Bee Cave, has delivered about 150 homes since starting construction in 2018.
Homes in the second phase will range from 2,200 to 5,500 square feet on 50- to 80-foot lots, Masonwood CEO Jim Meredith said. Builders include Chesmar Homes, Drees Homes, Newmark Homes, David Weekley Homes and Westin Homes. Phase two amenities will include a pool, sports courts, trails and pocket parks. Existing features include a pool, enclosed clubhouse and small vineyards already producing grapes.
Meanwhile, 40 miles south of downtown Austin, Perry Homes has started construction on a 400-acre master-planned development called Juniper Springs in Lockhart, a fast-growing town in Caldwell County.
The project is expected to include 1,400 homes once complete, according to the outlet, with the first lots ready this summer and model homes opening this fall. Prices will range from about $400,000 to $600,000.
The neighborhood will also include 150 acres of green space and an elementary school, Borchert Loop Elementary, already complete and set to open for enrollment in August. Lockhart’s population has grown more than 19 percent since 2020, and thousands more homes are on the way as other developers, including Red Oak Development Group, expand into the area.
The push on the western and southern edges of the metro reflects ongoing suburban migration and demand for larger lots and master-planned amenities, even as high interest rates slow construction starts in Austin’s urban core.
Texas rules the homebuilding game. The Austin-Round Rock-San Marcos metro area ranked fifth among U.S. metros with the highest home building permit volume over the past 12 months, according to Zonda. It landed just after the San Antonio area, Phoenix, Houston and, in first, the Dallas-Fort Worth-Arlington metro area.
— Judah Duke
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