A planned 1,736-acre master-planned community in eastern Hays County has changed hands, with Austin-based Wilson Capital and Carlton Capital Investments acquiring the property from Walton Global.
The development, known as The Ridge, is located along Highway 21 between Rohde Road and High Road. The sale marks the next step for the large residential project, which is planned to include more than 6,200 homes along with parks, trails, schools and commercial development. Terms of the sale were not disclosed.
According to information released by the companies, the community is planned to include 6,218 single-family homes on 40- to 60-foot lots. Plans also call for more than 30 acres of amenity centers, approximately 119 acres of parks and open space, miles of nature trails, a community hall with a fish camp and about 60 acres designated for future commercial and multifamily development.
The master plan also includes sites reserved for future elementary, middle and high schools totaling about 57 acres. No timeline has been announced for construction of those campuses.
The property lies along the Highway 21 corridor in one of the fastest-growing areas of Hays County, providing access to both Austin and San Antonio.
Wilson Capital said the acquisition reflects its continued investment in the Central Texas market.
“We are excited to acquire The Ridge and continue investing in the Austin market,” Taylor Wilson of Wilson Capital said in a statement. “This project reflects our continued long-term commitment to delivering quality communities in high-growth areas.”
Walton Global said the transaction represents one of its largest recent land sales in the Austin metropolitan area.
“This was a significant closing for Walton Global and a strong example of continued demand for well-located land in high-growth markets,” Rob Nixon, senior vice president of real estate for Walton Global, said in a statement.
The companies said The Ridge is planned as a mixed-use community designed to serve the growing population in eastern Hays County. The site is approximately 20 minutes from Austin-Bergstrom International Airport and about 30 minutes from downtown Austin.
A timeline for infrastructure work or the first phase of home construction has not been announced.