Austin Business Journal shares, "Hundreds of homes are set to rise west of Austin after a developer secured a $106 million loan for the next phase of a master-planned community.
Austin-based Masonwood Development will begin the second phase of its Provence community early next year, CEO Jim Meredith said in a statement, thanks to the loan from Canadian-based Trez Capital.
The closing of the loan enabled “us to to immediately begin the infrastructure and development of Phase II of this prized project,” Meredith said.
Masonwood collaborated with John Hutchinson and Jason Stowe at Trez Capital to secure the loan.
Provence, a 910-acre development at 16314 Hamilton Pool Road, broke ground in early 2018 and 151 homes have been built so far. But the second phase of development will see 845 homes built, Meredith said. Once complete, the neighborhood is expected to have 1,600 home sites.
Homes in Provence’s second phase will range from 2,200 to 5,500 square feet and will be built on lots ranging from 50 to 80 feet.
Homebuilders active in the development are Chesmar Homes, Drees Homes, Newmark Homes, David Weekly Homes and Westin Homes, Meredith said.
Construction on the second phase will begin in the first quarter next year, with initial move-ins expected one year later.
Provence is situated in the Lake Travis Independent School District and is served by Bee Cave Elementary School, Lake Travis Middle School and Lake Travis High School.
Amenities at Provence completed in the first phase of development include trails, a pool and enclosed clubhouse. In addition, small vineyards are already producing grapes, “with aspirations to craft local wine,” according to the announcement.
For the second phase, planned amenities include another pool, more trails, pocket parks and sports courts."
Source: Austin Business Journal
Written by: Cody Baird
Published: June 26, 2025
Posted by Grossman & Jones Group on
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