SPICEWOOD, Texas — The first homes are going up for sale at a luxury community being developed at Thomas Ranch, near Spicewood.
Twenty-five lots are for sale at Loraloma, a 2,000-acre luxury community, according to KVUE’s media partners at the Austin American-Statesman.
The homes in the community will include cottages, villas, estates and custom home sites and will range from two to five bedrooms and 2,500 to 10,000 square feet. The lots for three-, four- and five-bedroom floorplans go for a starting price of $1.6 million.
Eventually, 400 homes will make up the development, along with a hotel, golf course, clubhouse, pools, spa and fitness center.
The developer, Salt Lake City-based Areté Collective LP, says it will take seven to 10 years to complete the neighborhood, while Thomas Ranch as a whole will take around 10 to 15 years. The community could eventually include 3,500 or more homes, including single-family, multifamily, senior and affordable housing.
The developer officially began construction on the community last month.
Boomtown is KVUE's series covering the explosive growth in Central Texas. For more Boomtown stories, head to KVUE.com/Boomtown.