Anyone who has moved to Austin in the last 10 years knows that the really expensive properties are on the west side of Mopac. Sure there are some great homes in Pemberton Heights, or Old Enfield, but the old money usually lives in Tarrytown, and the new generally has a home somewhere off 360 with a view of Lake Austin.
Unless you buy an old lot and tear down a house, there are very few opportunities for new luxury homes in these areas. That is, until now. A large tract of unprecedented Lakefront Property is coming on the market in the next few months.
New luxury development for Austin Real Estate
Situated on a prominent ridge adjacent to one of Austin’s most famous landmarks, the Pennybacker bridge, is 144 acres that has spectacular views, of west austin, and has never before been developed. It’s called Shepherd Mountain.
There is still a mystery surrounding who owns the large untouched land just off 360 and lake Austin. But recently the Austin American Statesman learned that the land is owned by Exxon Mobil Corp. Originally they planned on developing the land, but that was more than 30 years ago. Since nothing was done, they are now considering releasing the land to developers.
In the past, when large tracts of waterfront land in Austin have gone on the market, they are quickly snapped up by high-end developers who create large parcels (usually 1+ acres) for homesites. The last time any significant developments went up it was in the late 90’s and the style of homes reflects that. My regular readers know that I love modern architecture, and I sincerely hope that whoever develops this land incorporates more modern design trends, as well as using more sustainable materials, and building in energy efficiency. I, for one am tired of showing house after house that is Tuscan or Contemporary in style.
Who Owns Shepherd Mountain?
According to the Tax records in Travis County, the land is owned by 360 Camelback LLC (Recently changed from Camelback Corp.)
The Austin business journal is reporting that the land is coming up for sale. I’m not sure if they are going to sell the whole lot as one parcel, or if it will be subdivided into sections. Either way, just about anywhere you stand on this land, you are going to have a spectacular view of the Bridge, and Lake Austin. I also imagine the sunsets will be near perfect, nightly.
Of course the lots that will be closest to the water will have a premium, and the areas farther back will be more affordable.
Views from Shepherd mountain
One of the most popular photo locations in Austin is on a ridge overlooking the bridge, and if you are standing on this spot, the area is behind you, and to your right.
In addition, you may have views of Cat Mountain, Lake Austin, or the Austin Country Club.
The land is being sold by Jones Lang & Lasalle ( a Global Commercial developer), and if you are interested in learning more, give me a call.