Real estate
Real estate
BY HANNAH NORTON
BY GRACE DICKENS
Four Seasons Private Residences Lake Austin to begin construction this fall
Texas’ rst statewide ood plan says 5 million people at risk
What’s next
Once complete, the news release states the property will have four shared resort clubs including a clubhouse, indoor sports club, a spa and wellness club, and an indoor garden. Construction is expected to begin this fall with an anticipated completion date of late 2027. The community is actively selling residences, which start at $4.6 million.
Over 5 million Texans live or work in areas vulnerable to ooding, according to a draft of the state’s rst ood plan. State lawmakers tasked the Texas Water Devel- opment Board with creating the plan in 2019, in the aftermath of Hurricane Harvey. The 267-page draft, published in early May, recommends over $54.5 billion in funding from various sources to reduce ood risks. The board discussed the plan during a May 30 public hearing in Austin. Board members are expected to adopt a nal ood plan in August and submit it to the Legislature by Sept. 1. The details The plan includes ndings from 15 regional ood planning groups, which have been working since October 2020, and makes several recom- mendations for state and local ood policies. “Although ooding has certain bene ts, like recharging groundwater and providing vital
nutrients to ecosystems and agricultural lands, it remains a signi cant threat to the health and safety of Texans,” the plan reads. “Each of the state’s 254 counties has experienced at least one federally declared ood disaster, proof that oods can a ect all areas of Texas.” The plan noted roughly 70% of ood-related deaths occur on roadways, particularly during the night and at low-water crossings. The planning groups identi ed nearly 64,000 miles of roads in areas susceptible to ooding. The board asked the Texas Legislature to expand early warning systems for oods, create minimum building and infrastructure standards to reduce fatalities and property damage, improve low-water crossing safety, and enhance dam and levee safety programs. “We want to put out a state ood plan that does what it is tasked to do, and that is to save lives and save property,” board Chair Brooke Paup said.
Flood risks Around one in six Texans live or work in ood-prone areas, the Texas Water Development Board found. Over one-fourth of Texas’ land area is vulnerable to ooding.
The Lake Austin area is gaining a new luxury residential community from hospitality company Four Seasons Hotels and Resorts. Known as Four Seasons Private Residences Lake Austin, the project is set on 145 acres of natural landscape and waterfront. The development is surrounded by 2,000 acres of protected land that serve as part of the Balcones Canyonland Preserve. Interiors for the modern-style community will be designed by Lissoni & Partners, a New York- and Italy-based architecture and interior design rm, according to the news release. In June, investment and development rm Turnbridge Equities became a co-developer of the project, joining Austin Capital Partners, according to a news release.
5.22M people
1.66M buildings
COLDWATER CANYON DR.
63,900 miles of roads
1.29M homes
2222
COURTYARD DR.
Four Seasons Private Residences Lake Austin
BRIDGE POINT PKWY.
12.65M acres of agricultural land
360
LAKE AUSTIN
6,258 hospitals, EMS departments, re stations, police stations and schools
The new development is located near the RM 2222 and Loop 360 intersection.
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RENDERING COURTESY DBOX FOR AUSTIN CAPITAL PARTNERS
SOURCE: TEXAS WATER DEVELOPMENT BOARD COMMUNITY IMPACT
BEE CAVE 13015 Shops Pkwy (512) 263-9981
BRODIE LANE 4970 Hwy 290 W (512) 366-8260
NORTH 620 10601 N FM 620 (512) 506-8316
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