When Luis Jauregui first viewed his future Westlake-area homesite a decade ago, the local developer said he pictured the scenic, surrounding parcel as a residential community close to downtown Austin. However, once the real estate market declined, he said he was forced to put his idea for the 85-acre tract on hold.

In 2012, Jauregui resurrected his plans by obtaining the necessary permits and engineering to see his vision come to fruition.

Scenic View, off Far Gallant Drive, is slated to be a 19-home, gated development zoned to Bridgepoint Elementary School and Eanes ISD, Jauregui Properties Broker Susan Jauregui said. The available lot sizes vary—from one acre to more than five acres—and range from $975,000 to $1.5 million, she said.

"It's one of a kind—a very unique opportunity [for buyers]," Luis Jauregui said of the wooded property located on the outskirts of Davenport Ranch. "In Davenport [Ranch], you have lots that are 130 feet to 150 feet wide. Most of the lots feature a 200-foot-wide frontage and all of the lots provide privacy."

Construction on the development's roads and utilities is planned to begin in January for a summer completion, he said. Dual entry gates are planned at Far Gallant Drive and Scenic View Drive, he said.