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Texas  + Austin  + Apartments  | 
Wasatch buys 58-acre parcel in Thomas Ranch

Wasatch Planning 600 Units in Thomas Ranch

Wasatch Premier Properties (WPP) has bought a 58-acre site in Thomas Ranch to build a multifamily community. The property is located in Spicewood, 25 miles outside of downtown Austin. Arete Collective was the seller.

Scheduled to be delivered in early 2026, plans for the site include nearly 100 townhomes and 500 apartments designed in collaboration with Dallas-based Hensley Lamkin Rachel Inc (HLR). Apartment units will range from 650 to 1,400 square feet, including one-, two-, and three-bedroom options. Two- and three-bedroom townhomes will also be offered on the property, ranging from 1,400 to 1,700 square feet. The new complex will have a dog park, swimming pool, spa, clubhouse, yoga and fitness studio, and more.  

Upon completion, Thomas Ranch will include housing across all price points and types in distinct neighborhoods, with a downtown district offering more than 250,000 square feet of commercial real estate for retail, restaurants, service, and office space all within a 15-minute walkable district.

Register today for Connect Phoenix Multifamily & Single-Family Build-to-Rent, scheduled for April 18 at the Westin Kierland Resort & Spa, Scottsdale, AZ.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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