Waterfall on Lake Travis, a new 5-story luxury development, will offer 36 condominium homes, each with a lake view.
By KIM ESTES, Four Points News
A new 5-story luxury development on the tip of Hudson Bend peninsula will offer buyers a choice of 36 condominium homes, each with a view of Lake Travis, said Cosmo Palmieri, developer.
Kelly Gray, owns MRG15 HiLine, Ltd., which is building Waterfall on Lake Travis.
Waterfall on Lake Travis, owned by Kelly Gray of MRG15 HiLine, Ltd., will offer homebuyers what Palmieri described as a “Hill Country contemporary” motif. The building face will be stucco topped with a metal roof. Inside, homes will feature limestone and wood flooring.
Gray and Palmieri are both residents of the Four Points area.
“The most unique feature will be floor-to-ceiling glass with expansive views of the lake. Some have a 270-degree view,” Palmieri said.
“It’s a landmark. There is nothing on the lake as substantial as this,” he added.
The project has been in the works for more than two years.
Construction began last May and is expected to be complete by August with homes ready for occupation in the fall. Already, however, one residence has sold.
“People can buy now, but we’re still under construction. We’ll be ready to start showing about June,” Palmieri said.
Keller Williams realtor and Waterfall’s exclusive marketing agent, Gene Arant, said, “I was showing some property on the other side of the lake, across from Waterfall, and I saw the buildings from there. It was pretty cool.
“If someone likes the feeling of this type of residence, in a mid-rise building on Lake Travis, Waterfall is your only choice,” he said.
Palmieri said they chose to build condominiums as opposed to single-family homes for a couple of reasons. “Lakefront homes are really expensive and some of this property is in a flood plain, thereby limiting (housing) density.
He added that there is also a lot of single-family, lakefront housing available.
“We felt like there was a niche here for something else, something more affordable,” he said.
Regardless of the flood plain designation, Arant said, flooding is very unlikely at Waterfall where the elevation is 723 feet above sea level. The top of nearby Mansfield Dam is only 714 feet, he added.
Priced from $429,950 to $849,000, homes are located on floors two – five. The first floor serves as a residential garage.
Buyers can choose from four different floor plans spanning from about 1,300- to 2,100-square-feet. Options include a two-bedroom two-bath floor plan, a three-bedroom three-bath floor plan and a penthouse featuring two master suites and a versatile study or formal dining area.
“All the homes have a balcony for an outdoor living space that’s really nice,” said Arant.
In addition to the view and easy access to 950 feet of shoreline, South Shore Marina is within walking distance and offers 28-to-42-foot boat slips.
Other amenities at the development will include an in-ground pool with a waterfall feature and a cabana, a fenced dog park and an outdoor grill and picnic area.
“The biggest advantage of a condo is it is lock-and-leave. Convenience-wise, when you have a condo, you aren’t taking care of anything except what’s within your walls,” Arant said.
For more information on Waterfall on Lake Travis, go to http://waterfallonlaketravis.com
Waterfall on Lake Travis, owned by Kelly Gray of MRG15 HiLine, Ltd., will be ready for residents this fall. Construction began in May and is expected to be complete in August.
