Austin’s real estate market is as hot as a Texas summer, and new communities are popping up all over the city every day. Crescent Communities, a real estate development firm based in North Carolina, recently purchased a sizable piece of the Belterra community in Southwest Austin. Although Belterra has been in development over the past twelve years, this acquisition will complete the neighborhood’s master plan. There are currently about 1,200 homes in Belterra, and Crescent expects there will be about 2,000 homes when their work is finished. The total property acquired by Crescent also includes about 70 acres for retail and commercial development. Belterra occupies about 1,600 total acres of pristine hill country land between Dripping Springs and Austin.
Crescent Communities cited Austin’s growth as an influential factor in its decision to build homes in Belterra. More and more people are choosing to move to the city every day for its strong economy and low unemployment rate. Although Belterra is located outside of Austin’s city center, Crescent believes the community has everything homebuyers today are looking for. Residents of Belterra have access to numerous community amenities like pools, hike and bike trails, parks and a recreation centers. Rooster Springs Elementary, a Dripping Springs ISD school, is also conveniently located within the community. Major South Austin employers like Freescale Semiconductor and AMD are also just a short drive away from Belterra. However, the increased homebuilding activity and Austin's thriving real estate market sealed the deal for Crescent’s acquisition of the last piece of Belterra land.
This will not be the first time Crescent Communities has worked in the Austin area. The company is responsible for the development of Rough Hollow on Lake Travis as well as the Twin Creeks golf course community in Cedar Park. Builders Highland, David Weekley, Wilshire, Sitterle and Treaty Oaks have previously built homes in Belterra, and Crescent expects even more companies to begin work in this community. As for the commercial property, office buildings, grocery stores, restaurants and small suites suitable for local businesses are just a few of the potential projects that could be built there. Austinites can expect construction to begin immediately in Belterra and continue over the next five to six years. Homes will be priced from around $250K to $500K. For more information about Belterra, check out our Belterra Neighborhood profile. If you're ready to begin searching for homes, click here to view all Belterra homes for sale.