Four Seasons Targets Lake Austin for Its First Residential Complex, Defying Market Softness

Legendary luxury hospitality brand Four Seasons is building out its first residential-only complex in the country, and it's on the shores of Lake Austin in Texas.A 22-mile long man-made reservoir on the outskirts of Austin, TX, Lake Austin has among the priciest real estate in the Lone Star State, and shows no signs of the slowdown that has affected the rest of the Austin luxury market.In August, the Austin metro posted the biggest drop in the country for luxury real estate, with its luxe entry point (top 10% of sales) threshold down 9.6% year over year to $1,262,726, more than three times the national pace, according to Realtor.com® data.But the waterfront areas of Lake Austin are bucking that trend, with about 950 properties along the shoreline up 30% year over year, with the majority of transactions over $10 million, according to Eric Moreland, founder of Eric Moreland Group realty, who grew up in Lake Austin.The agent specializes in the area's high-end real estate—the kind of place where people routinely pay $4 million for a "lake cabin"—and is handling sales for the project. Loading...Luxury residences will have outdoor space with sweeping views of Lake Austin and the protecte...