Major Lake Travis Resort Project Sold
A 242-acre site on Lake Travis expected to become a resort-style residential community is in new hands.
Turnback Development LLC, part of the Tharaldson family of companies, has purchased the tract in Lago Vista from Dallas-based Winston Capital Corp. for an undisclosed price. Winston bought the property in 2006 and laid out a plan for 700 living units including condos and single-family homes in an amenity-rich development.
Dillon, Colo.-based Equilibrium Resorts will manage the development and operation of the property for Turnback. The tract with roughly 11,000 linear feet along the lake is southwest of the intersection of Lohman Ford Road and FM 1431.
The new owners have renamed the site -- previously known as Turnback Ranch – Mahogany, A Lake Resort. Equilibrium's concept for the project includes a Mediterranean style village, resort hotel, estate-size lakefront home sites, single-family home sites and townhomes. All told, there will be about 700 residential units.
Meanwhile, Winston Capital is already developing the Waterford on Lake Travis project, a 460-acre master-planned development just outside Lago Vista and south of the Mahogany site. The Waterford project includes more than 300 homes, as well as Waterstone, a 71-unit, luxury lakefront condominium project that is currently under construction and expected to be ready for occupancy by August 2008. The condo project is already 40 percent pre-sold.
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