AUSTIN, Texas — Construction is set to begin later this month on Thomas Ranch, a 2,200-acre luxury community near Spicewood. That's according to a report from the Austin Business Journal (ABJ).
The report states that developer Areté Collective LP plans to break ground on June 15. The first phase neighborhood, Loraloma, will include about 450 homes homes and a golf course.
The managing director of Thomas Ranch said the intention is to "cater to a wide variety of individuals." 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.
Sales for homes in Loraloma will open this summer, with 25 initial lots, and home prices are also expected to be announced later this summer.
According to the ABJ's report, Loraloma will take seven to 10 years to complete, 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.
To learn more about the Thomas Ranch community, read the ABJ's full report.
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