Huffines Communities Invests in Waterford at Lake Travis
- Oct 08, 2013
Huffines Communities has announced that it has acquired 51 lake view and lake front lots in the gated and custom homes community of Waterfront on Lake Travis community in Lago Vista, Texas northwest of Austin, adding to its first investment, Waterford Marina, located on Lake Travis’ north shore. A new marina built in 2010 and land that is slated for 70 lots is also part of the purchase.
The seller has been represented by CBRE and the offering was priced at $10 million. Huffines plans to use the uprising homebuilding market and sell the lots to individuals and custom builders.
“Homeowners who decide to build in Waterford will join a community that already features 67 custom homes valued from $800,000 to over $2 million” said Donald Huffines, co-owner of Huffines Communities. “These first 51 highly desirable lots – with outstanding views and lake frontage on Lake Travis – are ready to build on,” he added.
The area’s value has grown over time, becoming a primary home market with massive residential developments underway in the nearby perimeter. Located just 30 minutes from Austin, the area is ideal for families as there is a high school currently under construction only three miles away.
“Waterford at Lake Travis is also an exceptional neighborhood for boating enthusiasts,” said Phillip Huffines, the second co-owner and brother of Donald. “The Waterford Marina is a first-class marina with a variety of premium, covered boat slips that can be leased by anyone, not just Waterford homeowners.
“We believe in the growth potential of the marina segment and will continue to look at other marina purchases in the future,” he added. “We gain operational efficiencies from owning multiple marinas.”
Photo courtesy of CBRE.