2 0 2 2 A N N U A L C O M M U N I T Y G U I D E
rising costs median sales price
by the numbers
Over the past 10 years, home prices and rental rates in the 78734 and 78738 ZIP codes in Lakeway and Bee Cave have increased. This has prompted discussions about a ordable workforce housing. Here is a look at the recent median price of homes and the average rents in the 78734 and 78738 ZIP codes. SOURCES: APARTMENTDATA.COM, AUSTIN BOARD OF REALTORS COMMUNITY IMPACT NEWSPAPER
Higginbotham and Kilgore said they believe there are other places in the city suited for workforce housing. While Higginbotham said Lakeway leaders have a role to play in identify- ing sites and developers, Kilgore said City Council must create a level play- ing eld for all without cheerleading a speci c project. Meanwhile, Bee Cave o cials are preparing to issue a request for proposals to developers who could build a workforce housing project to a 20-acre plot of land located on Bee Cave Parkway. City Manager Clint Garza said the city has a vested inter- est in supporting the business com- munity because the majority of the city’s revenue comes from sales tax. The business community has been supportive of bringing workforce housing, but Garza said some resi- dents have concerns about increased tra c, the possibility of crime and misconceptions about workforce housing. “When folks think about work- force housing, they start to think about things like Section 8 housing or full-on government subsidized hous- ing that they may or may not have any experience with,” Garza said. “What we’re talking about is not that.” Philippe Bochaton, president of Baylor Scott & White Medical Cen- ter-Lakeway, said health workers are also at times priced out of the mar- ket and are unable to secure housing close to medical facilities. “For those who work in the hospi- tal, it’s often vital that they are close to the facility during on-call shifts when they are needed within min- utes,” Bochaton said. Working towardworkforce housing Lakeway City Manager Julie
78%
of respondents to a Lake Travis Chamber of Commerce survey said their business would bene t from workforce housing.
78734
78738
The median price of homes sold in 78738 climbed to $674,000 in 2020, a 35.4% increase since 2015.
$800K
17,215
$600K
residents in Lakeway and Bee Cave- area ZIP codes are employed.
$400K
From 2015-20, the median price of homes sold in 78734 increased by nearly 49% .
$1,540
$200K
$0
average weekly wage for Travis County SOURCES: LAKE TRAVIS CHAMBER OF COMMERCE, TEXAS WORKFORCE COMMISSION, U.S. CENSUS BUREAU COMMUNITY IMPACT NEWSPAPER Oakley said while the issue of work- force housing is a ecting the com- munity, it is a broader Central Texas issue, and the solution must include all regional stakeholders. “Working with regional partners is going to contribute to more success than the city of Lakeway on their own,” Oakley said. Tisdale said as local leaders look into zoning changes and proposed developments, they should make changes that will create lasting solu- tions and account for future growth. “No one anticipated this growth would be as large as it is, but it is, and we’ve got to think about the next 30 years, not just today,” Tisdale said.
2015
2016
2017
2018
2019
2020
monthly rent
1 bedroom 2 bedroom
3 bedroom
4 bedroom
$4K $3.2K $2.4K $1.6K $800
$0
2020
2021
At the time, Kent Conine of the Conine Residential Group, the devel- oper behind the Nightingale proposal, said this was the city’s best location to build workforce housing, criticizing Lakeway’s restrictive zoning. “Everything we do on council is about balancing competing interests
that people have,” Higginbotham said. “Protecting and preserving the quality of life that our residents enjoy, but also sustaining our business com- munity and making sure that they have what they need.” Despite di ering opinions on the Nightingale development, both
For more information, visit communityimpact.com .
TRAVIS COUNTY WANTS TO DO BUSINESS WITH YOU Travis County Purchasing Office is located at 700 Lavaca Street Suite 800 Austin, Texas 78701 Phone: 512 854-9700
Visit our website for current solicitations. https://www.traviscountytx.gov/purchasing
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LAKE TRAVIS WESTLAKE EDITION • JANUARY 2022
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