Cottonwood Shores could get 60 new homes in the future thanks to Lennar.
The company, which has a billboard in the city announcing the commitment, made the decision in the fall after examining options 12 months ago, according to Charlie Coleman, president for Lennar’s Greater Austin Division.
“We’re excited to get started,” he said. “We currently control 60 homesites. We’re working with the developer, (lot) seller, and city leaders. We hope to start homes in the next 30-60 days. Things may take a little bit longer because of COVID-19.”
Lennar has created new floors plans to reflect the look and feel of the Highland Lakes.
“Look at Cottonwood Shores, Marble Falls, and Horseshoe Bay,” Coleman said. “There’s not a lot of homes being built. We think it’s a great opportunity for us to build houses.”
Projected home costs are in the low $190,000s, and the houses will be 1,200-2,000 square feet with single- and two-story floor plans available.
With low interest rates for new homes, construction is booming across the county, which could limit some materials for the Lennar project in the short term. Once everything is on hand and the foundation is dry, it takes four to five months to build a home, Coleman said.
“We’re excited to go out there and provide housing,” he said. “We’re excited as well because we think we can fill the need in the market place that’s not (being met).”