|By PR Newswire||
|October 3, 2013 08:35 AM EDT||
AUSTIN, Texas, Oct. 3, 2013 /PRNewswire/ -- Dallas-based real estate developer Huffines Communities has purchased 51 lake view and lake frontage lots in Waterford on Lake Travis, a gated community of custom homes in Lago Vista northwest of Austin. The acquisition also includes a new marina constructed in 2010, as well as additional land that is platted for 70 more lots. The seller of the Waterford property was an unnamed Dallas partnership and the purchase price was not released. Huffines will sell the lots to individuals or custom builders as the homebuilding market continues to gain momentum.
"These first 51 highly desirable lots – with outstanding views and lake frontage on Lake Travis – are ready to build on," said Donald Huffines, who co-owns Huffines Communities with his brother, Phillip. "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."
"This acquisition give us the opportunity to help complete the build out of Waterford which is fortunately located in a vibrant, growing area, with several very large residential developments underway nearby," added Donald Huffines. "This area was once considered a second home market, but has grown into a primary home market."
"With the new Lago Vista high school now under construction only three miles away, this is also an ideal location for families," he explained.
"Waterford at Lake Travis is also an exceptional neighborhood for boating enthusiasts," said Phillip Huffines. "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."
Phillip Huffines noted that Waterford, with boat slips about 80 percent leased when purchased, is the second marina his company has acquired at Lake Travis. Waterford Marina is located on Lake Travis' north shore at Mile Marker 21 in some of the deepest water in Lake Travis.
"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."
For more information about available lots or the marina, visit www.huffinescommunities.com or call 214-750-1800.
For more information, Contact:
Cynthia Pharr Lee, C. Pharr & Company for Huffines Communities
972-931-7576, ext. 352
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SOURCE Huffines Communities