AUSTIN, Texas — Four Seasons Hotels and Resorts is planning to open its first stand-alone residential property in Texas soon – right on Lake Austin.
According to KVUE's media partners at the Austin American-Statesman, the 179-unit development will be called Four Seasons Private Residences Lake Austin and will be located on Bridge Point Parkway, west of Loop 360 and overlooking Lake Austin.
The units are expected to start at $4 million and would range from 1,900 to 7,000 square feet, with parking under each residence. Plans for the development also call for pools, a spa, a fitness facility and two restaurants, all limited to use only by residents.
According to the Statesman, the development is a venture between Austin entrepreneur Jonathan Coon, who owns the property; Four Seasons Hotels and Resorts; and Hines, a Houston-based real estate investment firm. Coon told the Statesman that 90 acres of the 145-acre site where the development is to be built will be preserved as green space or public parkland.
While this is Four Seasons' first stand-alone Private Residences location in Texas, the company has other such properties in London, Los Angeles and San Francisco. The Statesman reports that the Austin project is deemed stand-alone because it won't be accompanied by a Four Seasons Hotel, as is the case with the Four Seasons Residences in Downtown Austin.
Construction on the Lake Austin development is expected to begin in early 2023 and complete by late 2025.
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