33-Acre Site Primed for 238 High-End Condos

AUSTIN-Dirt will move, delicately, soon on Larry Peel’s latest multifamily project. Closing on the land should occur by the end of November and construction will start immediately, the Austin developer says. “We anticipate we’ll have units coming on probably very late next year and for certain in early ’04.”

Overlooking Lake Austin, Nalle Woods is a typical Peel project. “The tract is completely surrounded by heavily, heavily wooded land,” says Peel, adding extra emphasis to the second “heavily.” “That’s what’s so cool about it because it’s such an old undisturbed tract,” he says. “It has no undergrowth. It has these ancient cedars and oak trees.”

The project will have 238 units with an average 1,170 sf per unit, according to Peel. The units will be condominiums for lease.