A new residential community coming to Round Rock is the next step in the development of the city’s northeast corridor and reflects some of the regional real estate trends in high-end and senior housing.
Traditions at Vizcaya, an upscale housing development, and Heritage at Vizcaya, an adjacent retirement community, will include about 1,200 units at build-out, Round Rock Planning Director Brad Wiseman said.
Taylor Morrison, a builder involved in Round Rock’s Teravista community, is constructing the single-family homes off University Boulevard. Traditions at Vizcaya homes have an average listing price of about $315,000 and amenities include a pool, pavilion, “gourmet kitchens,” and master bedroom suites, according to Taylor Morrison’s website.Read more
Both Traditions and Heritage at Vizcaya are open for sales, although the homes are still under construction.
Wiseman said Vizcaya is a sign of the increasing interest in northeast Round Rock. University is home to campuses affiliated with Texas State University, Austin Community College, Texas A&M Health Science Center, Baylor Scott & White Health and Seton Healthcare Family.
“The northeast, where this project is, is where the growth is going to occur in the following decades,” he said. “We are encouraged with the prospects for development in the northeast, and a large community like this just adds to the synergy and momentum up there.”
Taylor Morrison spokesperson Michael Lindeman said in an email that his company chose the location for Vizcaya because of its proximity to services essential to the development’s target customers.
“Vizcaya is conveniently located between major transportation corridors I-35 and SH 130, providing easy access to employment centers and offering excellent accessibility to an array of local services,” he said.
Vizcaya’s location will also benefit the local economy, with new homeowners supporting area businesses, said Mike Odom, president and CEO of the Round Rock Chamber of Commerce.
“A lot of different types of commercial operations depend on a critical mass of heads in beds—you need people who live there, who are not just there for an 8 (a.m.) to 5 (p.m.) day,” he said. “We want to be a community that has an extremely positive and diverse quality of life, and that northeast corridor is really starting to build that.”
Miriam Moorman, a real estate agent who has worked in the North Austin and Round Rock areas for nearly 20 years, said the Vizcaya communities reflect the regional trends of rising home prices and new build-outs.
New, upscale housing developments are not good news for everyone, Moorman said, with some younger or less established buyers getting outbid and some sellers needing to compete against upgraded homes.
But Moorman said the area’s population growth and strong real estate market have compensated for these effects so far.
“Right now the market is strong enough to where it’s not a big deal,” she said. “Probably in the near future the market is going to stay pretty strong.”