Houston-based developers have acquired 458 acres in one of Austin’s fast-growing suburbs for a planned mixed-use development they said could have an assessed value of as much as $1 billion when complete.
Foxgate Capital and Cole Klein Builders formed Eastwood Ventures LLC to acquire the property in Manor, about 15 miles east of Austin, along Blake Manor Road and are beginning talks with homebuilders. Preliminary plans call for more than 1,300 residential lots and 97 acres of commercial and retail development.
Financial terms of the acquisition were not disclosed. The developers did not announce a construction timeline or identify homebuilders expected to participate in the project. The project is in its early stages, with a preliminary platting plan that developers said they expect to change. No permit applications or state filings have been submitted.
A portion of the broader property was previously acquired by national homebuilder Taylor Morrison, with those homes expected to come to market in early 2027. The remaining residential development is expected to be built in phases.
The project comes as the Austin area continues to rank among the nation’s busiest markets for new home construction. The Austin metro ranked seventh nationally in a 2026 ConsumerAffairs analysis, with 3,382 new-home building permits issued and 1,352 newly built homes sold in January and February. San Antonio ranked 10th, with 1,815 permits and 1,685 newly built home sales. The analysis covered the 150 largest U.S. metropolitan areas and used metro-level data.
Like many of Austin’s suburbs, Manor’s population has grown alongside that regional expansion. The Census Bureau estimates the city had 23,070 residents in 2025, up nearly 69% from its estimated 2020 base of 13,674.