Behind the gate and the dry stone walls shielding one of Texas’ most prestigious developments from the rest of Horseshoe Bay, a mini-building boom has begun with 12 new luxury homes under construction and work expected to start within a year on 15 more at the Escondido Golf and Lake Club.
“The entire city hasn’t been issuing but 10 to 15 building permits per year for the last few years, so there is no doubt those numbers would be half the construction in Horseshoe Bay,” said Mayor Bob Lambert.
The new homes in Escondido will join 40 Spanish and Italian-influenced homes already completed there, including six to be featured on this weekend’s Distinctive Homes Tour – the first since the 550-acre development opened in 2006 with the enticements of a Tom Fazio-designed golf course as its centerpiece and Lake LBJ’s constant level waters. Southern Living Magazine’s Idea House, which sits on the northern edge of the property, was the only home open to public viewing in a tour last year.
The event, planned this Saturday and Sunday from 11 a.m. to 4 p.m., is “an opportunity for people to get behind the gates of Escondido and see inside a lot of the homes all at once,” Director of Marketing Brandon Miller said. At 1 and 3 p.m., tours of the 30,000 square foot clubhouse, the resort-style Lake Club and other amenities will be available.
The properties are located at 9090 RR 2147.
“We’re very encouraged by all the new home starts,” said Miller. “As far as clubs, even on a national level, usually the news you hear is not that positive and is in the reverse direction right now. Recently we sold five lots, and we know that locally lot sales for many years now have been challenging. We’re seeing an uptick in that.”
The surge comes a year and three months after Escondido was acquired by Bond Properties of Dallas, whose principle investors Jonas Woods and Adam Krug were previously associated with Hillwood, a diversified investment company chaired by Ross Perot Jr.
The tour homes, all available for purchase at from $1.15 million to $2.2 million, are the kind of properties that appeal to buyers of leisure properties, the market where Escondido President Tony Dawson is focusing his efforts.
“We have a pretty good idea in the second home market of what the buyer is looking for. It’s a vacation home for most people out of the Houston, Dallas or West Texas market,” he said. “It’s not the big mansions these days. I think people want something that’s in the 3,200-3,800 square-foot range; very comfortable, three bedroom or four bedroom units.”
For the full story, see Friday’s Highlander.