A nearly 500-acre stretch of Central Texas is poised for a massive makeover, with plans for a $1 billion community featuring more than 1,300 homes and nearly 100 acres of shops and commercial space.
Foxgate Capital and Cole Klein Builders have acquired roughly 458 acres in Manor, about 15 miles northeast of downtown Austin, according to a recent news release from the Houston-based real estate firms. The property along Blake Manor Road will become Eastwood—a large-scale mixed-use hub with 1,335 residential lots and 97 acres of commercial and retail space.
While the sale price of the property was not disclosed, at full buildout, Eastwood is expected to represent between $900 million and $1 billion in total assessed value…