It is the third such document in the city's history and outlines a strategy to keep Lakeway moving in the right direction for the next 20 years. The first two comprehensive plans came out in 1999 and 2003, according to city information.
Council adopted the 115-page document during the March 16 meeting after a February work session that set the steering committee with a set of final amendments and notes to address.
The plan is broken down into 10 goals that are centered on community identity, environment preservation and enhancement, land use, transportation strategies and infrastructure, among others.
Committee Chair Larry Harlan addressed council March 16, and Mayor Sandy Cox thanked him and his committee for all of their hard work.
"We've had feedback from the whole community," Harlan said. "So this is a plan for the entire community, and they all deserve a pat on the back."
Statistics from the newly adopted plan state Lakeway's population has grown 4% per year since 2000, and the population under the age of 24 has increased 30% in the last seven years.
"With growth came a profound shift in demographics," the plan states. "Lakeway grew from a retirement and second home community in the 1960s and 1970s to a full life cycle community today with mostly primary residents."