CEDAR PARK, TX —Four Seasons Hotels and Resorts and its partners have set their sights to build a 179-unit residential property located off Lake Austin in west Austin.
The resort announced Monday the property will be called the Four Seasons Private Residences Lake Austin. The 145-acre private resident community will be located on Bridge Point Parkway west of Loop 360 and the Pennybacker Bridge.
It is expected to break ground in 2023 and open in 2025, according to a fact sheet provided by the resort, Austin Capital Partners and real estate investment firm Hines.
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The community will feature 18 buildings, each 45 feet higher than the top of the hill, and 179 resident spaces priced at $4 million and up.
Residential spaces range from 1,900-square-foot condos, 7,000-square-foot four-bedroom units and 3,000-square-foot penthouses with 40-foot pools.
The property will feature amenities such as a private marina, a lake clubhouse, a covered garden, an athletic center, a spa, a 300-foot infinity edge pool, a theater, a private restaurant, nature trails and a private park.
Officials said the property will be the first of its kind in Texas and the firm’s fifth location worldwide. Presale for units began this fall.
“Our plan—supported by our neighbors and approved by the city—includes safe and accessible parking for the overlook and cliff,” said CEO of Four Seasons Hotels and Resorts John Davison. “In addition to donating half of our lakefront property to the city, we will continue to invest in the responsible development of the green space—creating the first new park on Lake Austin in decades.”
Four Seasons is dedicating 1,466 feet of the property’s cliff area to become a public overlook and park overlooking Lake Austin, Pennybacker Bridge, the Austin Country Club golf course and downtown Austin’s skyline, according to the company’s environmental stewardship sheet.
The firm will also fund the construction of 25 free parking spaces accessing the overlook. Four Seasons has agreed to protect 75 percent of Heritage trees throughout the site and will dedicate 90 acres of the property to be protected green and parkland space.
Additionally, the hotel and resort company will employon the property and is considering a solar energy pathway to all buildings.