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Feb. 1, 2013

Last Lots in Twin Creeks Development Sold; Builders to Break Ground on New Homes

By Camelia Bulea, Associate Editor

Standard Pacific Homes and Ryland Homes have purchased the remaining 201 lots in the Twin Creeks master-planned community located in Cedar Park. Together the builders will develop the Reserve at Twin Creeks—the last section that remains undeveloped in the subdivision, which currently counts for 800 homes.

Standard Pacific Homes officially announced the acquisition of 75 home sites in the 760-acre community and plans to break ground on the first homes in February. 16 new home designs will be unveiled when sales start in the spring of 2013. According to its official statement, the builder will offer one- and two-story designs ranging in price from the mid-$300,000–$600,000 range.

Ryland Homes purchased the other 126 home lots and will have offerings in three neighborhoods of the master-planned community. According to The Statesman, their homes will be divided as follows:

  • 50 townhomes ranging in price from the low $200,000s to the upper $200,000;
  • 76 houses will be priced from about $350,000 to the upper $600,000s.

The housing market in Central Texas and Austin in particular began recovering in 2012 and is expected to gain further momentum this year. Eldon Rude, head of the Austin market for Metrostudy, forecasts that builders will start construction on circa 9,000 to 10,000 new homes this year, as compared to 7,981 housing starts recorded last year in Central Texas.

The high demand for new housing units is also explained by the 2013 annual list of “America’s 20 Fastest Growing Cities” published annually by Forbes. For the third year in a row, Austin is the fastest growing city in the country, based on six metrics:

  • estimated rate of population growth for 2012;
  • estimated rate of population growth for 2013;
  • rate of job growth in 2012;
  • rate of gross metro product growth for 2012;
  • federal unemployment data;
  • and median salaries for local college-educated workers.

Photo credits: www.twincreeks.com

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