Featured Property News

The Hotel

The 104-room, 4-story La Quinta Del Sol Lakeway is under construction on a 30,000 sq. ft. (.69) site at 1943 Medical Drive, Lakeway, Texas.  The 58,659 sq. ft. hotel will contain 2,085 sq. ft. of meeeting space which consists of The Venue, containing 1,322 sq. ft. and a meeting room containing 763 sq. ft. as well as a breakfast dining area with a seating capacity of 40 (estimated).  Other amenities include an outdoor swimming pool, fitness rooms, market pantry, lobby workstation, guest laundry area and outdoor patio.

The Brand

Del Sol is La Quinta's fresh new prototype.  Its guest-inspired, owner-friendly design makes a bold and inviting statement for both present and future guests.  Inspired by extensive guest-experience research, the Del Sol prototype combines iconic brand elements with elegantly clean geometric lines.  it is a dramatic composition of color and texture that creates a facade that is bold and inviting.  Blending light and shadow provides a new level of warmth that enhances the guest experience.  La  Quinta Del Sol Hotels are designed to meet the needs of both business guests as well as leisure travelers.

The Great Room concept places an emphasis on space and light and serves as a multifunctional area for social gatherings or as a place of relaxation and connectivity.  The Great Room has been updated with a fresh and stylish design providing comfort, convenience and productivity.  The integration of the latest technology makes the room appealing to millennials, plugged-in baby boomers and all business travelers.

Source:  Del Sol Prototype Booklet provided by La Quinta Inn & Suites

La Quinta Hoildings Inc. (LQ), headquartered in Irving, Texas, is a leading owner, operator and franchisor of select-service hotels primarily serving the upper-midscale and midscale segments.  As of December 31, 2016, the Company's owned and franchised portfolio consists of more than 888 properties representing over 87,200 rooms located in 48 US states, Canada, Mexico and Hondura.  These properties operate under the La Quinta Inn & Suites, La Quinta Inn and LQ Hotel brands.  La Quinta's team is committed to providing guests with a refreshing and engaging experience.

La Quinta guests are an equal part leisure and business travelers which helps their properties stay balanced seven days a week.  Their goal is to help their guests' travel dollars to go further by providing free high-speed internet, free Bright Side Breakfast and one of the fastest-rewarding guest-loyalty programs in the industry.


La Quinta Inn & Suites properties appeal to both leisure and business guests with their many amenities:

  • Oversized work space in rooms

  • Large lobbies with comfortable seating areas

  • 32" or larger HDTV with Plug-and Play features for guests to play their own content

  • Well-equipped workout facilities

  • Indoor or Outdoor pool options

  • Business centers

  • Pillowtop mattresses

  • Conference/meeting room facilities

In 2014, nerly half of La  Quinta locations earned TripAdvisor Certificates of Excellence,  substanially outpacing the category average.  Based on data provided by STR, La Quinta is the fastest-growing principal select-service hotel brand in the United States in midscale and upper-midscale segments in terms of percentage growth of number of hotels over the last 1 year ended December 31, 2013.  La Quinta grew their total number of hotels from 362 in 2003 to 834 as of December 31, 2013, significantly outpacing the percentage growth of hotels franchized, owned and operated by Comfort, Holiday Inn Express and Hampton.  Those are the hotel brands most often included in their STR competitive sets, which they refer to as their "main STR competitive set."  They also had a pipeline of 187 franchised hotels as of December 31, 2013, to be located in the United States, Mexico, Canada, Columbia and Honduras (79% of which represents new construction as opposed to the conversion of an existing hotel).

Source:  La Quinta Brochure provided by La Quinta Inns and Suites

Lakeway, Texas

Lakeway is located on the south shore of Lake Travis in the scenic Texas Hill Country approximately 20 miles west of Austin.  Lakeway is a resort community with golf courses, tennis courts, marinas, a private airport, a full-service hotel and spa, a 63.75 mile long lake, 100 acres of parkland and trails and nearly 500 acres of greenbelts.  It is considered one of the finest small cities in the Austin Metro area.

Lake Travis

Lake Travis has the largest storage capacity of the seven reservoirs known as the Highland Lakes, and stretches almost 65 miles upriver from western Travis County in a highly serpentine course into southern Burnet County to Max Starcke Dam, southwest of the town of Marble Falls.  The Pedernales River, a major tributary of the Colorado River, flows into the lake from the southwest in western Travis County.  The lake is used for flood cocntrol, water supply, electrical power generation and recreation.

Lake Travis has over 271 miles of shoreline and its maximum width is 4.5 miles.  The lake covers 18,929 acres and is known as the "Crown Jewel" of the Central Texas Highland Lakes.  Lake Travis is one of the most visited recreational vacation destinations in the state of Texas.  Lake Travis' limestone bottom results in its unique crystal clear blue waters, makeing it a freshwater haven for water enthusiasts.

  • North Shore - This is the less commercial side of the lake.  The community of Lago Vista is located here.  The benefit certainly includes a more natural and less urban feel.  North Lake Travis remains a beautiful secluded getaway with fantastic amenities.  The north shore has some beautiful marinas and some of the most amazing vacation rentals on the lake.

  • South Shore - This is the most commercial side of the lake due to it's proximity to Austin proper.  South lake includes the community of Lakeway and Bee Cave and the largest selection of amenities on the lake. 

  • Spicewood - The west side of Lake Travis includes the communities of Briarcliff and Spicewood.  Another rapidly growing part of the lake, the west side , has easy access and fantastic amenities, but still retains that old-school Lake Travis feel.

  • Volente - The east side of the lake includes the communities of Volente and Jonestown.  Easy access from I-35 via 620 and nestled up against the North Austin suburbs of Leander and Cedar Park.  East Lake Travis is home to many marinas, boat rentals and lake fun amenities.

Austin, Texas

Austin, Texas is the capital of the state of Texas and the seat of Travis County with portions extending into Hays and Williamson counties. It is the 11th most populous city in the U. S. and the 4th most populous city in Texas.  It is the fastest growing large city in the U. S. and the 2nd most populous state capital in the U. S. after Phoneix, AZ.  As of July 1, 2016, the U. S. Census Bureau estimated  Austin had a population of approximately 947,890 residents.  Located in Central Texas in the foothills of the Texas Hill Country, the city is home to numerous lakes, rivers and waterways including Lady Bird Lake, Barton Springs McKinney Falls, the Colorado River, Lake Travis and Lake Walter  E. Long.  It is the cultural and economic center of the Austin-Round Rock metropolitan statistical area which had an estimated population of 2,056,495 residents as of July 1, 2016.

In the 1830s, pioneers began to settle the area in central Austin along the Colorado River.  In 1839, the site was officially chosen to replace Houston as the new capital of the Republic of Texas and was incorporated under the name Waterloo.  Shortly thereafter, the name was chabnged to Austin in honor of Stephen F. Austin, the "Father of Texas" and the republic's first Secretary of State.

By the 1980s, Texas emerged as a center for technology and business.  A number of Furtune 500 companies have headquarters or regional offices in Austin, including Amazon.com, Apple, Inc., Cisco, eBay, Google, IBM, Intel, Oracle Corporation, Paypal, Texas Instruments, 3M and Whole Foods Market.  Dell's worldwide headquarters is located in nearby round Rock, a suburb of Austin.

Austin is located approximately 150 miles northwest of Houston, 160 miles south of Dallas, and 75 miles north of San Antonio.  In 2010, the city occupieda total area of 271.8 sq. miles with approximately 6.9 sq. miles being water.

Austin is situated on the Colorado River with three man-made lakes within the city limits:  Lady Bird Lake, Lake  Austin and Lake Walter E. Long.  Mansfield Dam and the foot of Lake Travis are also located within the city's limits.  Austin is located at the intersection of four major ecological regions, and is consequently a temperate-to-hot green oasis with a highly variable climate having some charachteristics of the desert, the tropic and and a wetter climate.

In 2005 there were approximately 5,000 people living in downtown Austin.  By 2015, there were 12,000.  The central business district of Austin is home to the tallest condo towers in the state with the under-construction Independent (58 stories and 690 feet tall) and the Austonian topping out at 56 stories and 685 feet tall.  The Independent will supplant the Austonian as the tallest all-residential building in the U. S. west of the Mississippi River when complete in 2018.

The skyline has drastically changed in recent years and the residential real estate has remained relatively strong.  As of December 2016, there are 32 high-rise projects either under construction, approved or planned to be completed in Austin's downtown core between 2017 and 2020.  Sixteen of those are set to rise above 400 feet tall, including four above 600 ft. and eight above 500 ft.  An addiitonal 15 towers are slated between 300 ft. and 399 ft. tall.

More than 25.6 million domestic visitors come to  Austin annually having an annual economic impact of $7 billion from visitor spending.  Known as the Live Music Capital of the World, Austin offers world-renowned festivals such as the SXSW (South by Southwest) and the Austin City Limits Music Festival - along with 250 venues featuring rock, blues, jazz, hip hop and other genres nightly.  However, Austin's universal appeal extends well beyond music - with outstanding dining experiences, world-class sporting events, an oasis of outdoor activities and other unique happenings

Texas has been ranked as the most business friendly state in the country.  Texas is one of only a handful of states with no individual income tax.  And in Austin, you will find an inviting business community full of innovative technology, digital media, clean energy, and life science enterprises.  It's a dynamic business ecosystem that has provided consistent job growth for some  of the world's most successful companies.

The greater Austin area is recognized around the country as a select location for corporate headquarters and supporting facilities.  it is renouwned for its quality of life and hosts a strong regional infrastructure supported by a mujlti-tiered workforce.  These conditions combine to create one of the strongest business environments in the United States.

Offering a low cost of doing business together with a lower overall cost of living compared with most of the rest of the country, the Austin region makes financial sense.  Their dynamic creative culture is fed by their diversity, quality of life, and focus on education.  Highly educated professionals from all over the world come to Austin to enjoy the beautiful Hill Country setting and innovative culture, making it easy to attract and retain a highly skilled workforce.

One reason the Austin region has stayed hot through more than two decades of business trends is its workforce.  CEOs, entrepreneurs, educators and researchers will agree, it's all about people and Austin's supply of unmatched employee talent is certainly no accident.  Their labor pool is about the most energetic, innovative, productive and educated in the world.  The best and brightest lead many diverse business sectors.  You will find many coming in every day to join them, whether it's from outside the area or through one of the largest talent pipelines in the country - The University of Texas at Austin.

In the Austin metro area, you will find a combined enrollment of 179,000 students in four-year and community colleges.  This provides an ample supply of well-educated workers to area employers.  Within 200 miles of Austin, an additional 86 four-year colleges and universities enroll nearly 458,000, providing one of the world's strongest talent pools.  Life and physical scientists number nearly 5,000 in the metropolitan area's workforce--approximately 47% of those are in the life sciences field.

The Austin MSA's unemployment rate as of September 2015 was 3.3% and as of September 2016 was 3.5% ranking 6th in the nation among the 50 largest metro areas.  In 2015, Austin MSA was ranked #1 as the fastest growing among the top 50 metro areas in the U. S.  with a population of 2,000,860.  It has the 2nd highest median household income among Texas metro areas, median age is 4 years younger than the nation, 67.2% of the population is under the age of 45 (59.3 naitonally), is more educated than the nation average, 42.6% of the population over 25 has a Bachelor's Degree (30.6% nationally). 

Compared to the other major business centers, Austin is well known for offering affordable living.  The Naitonal Association of Realtors  reports that the median single-family home price in Austin was $284,000 in the third quarter of 2016, while the naitonal median was $240,900.  NAHB estimates that 58.7% of homes sold in Austin are affordable to families earning Austin's median family income -- close to the 61.4% national affordability rate.   

State Government

 The Texas State Capital is located in Austin, Texas and the executive branches consist of the Governor, Lieutenant Governor, Comptroller of Public Accounts, Land Commissioner, Attorney General, Agriculture Commissioner, the three-member Texas Railroad Commission, The State Board of Education, and the Secretary of State.  Texas has a plural executive branch sysstem which limits the power of the Governor.  Except for the Secretary of State, all executive officers are elected independently making them directly answerable to the public, not the Governor. 

The Texas Hous of Representatives has 150 members, while the Texas Senate has 31.  The Speaker of the House, and the Lieutenant Governor presides over the Senate.  It ia a powerful arm of the Texas government not only because of its power of the purse to control and direct the activities of state government and the strong constitutional connections between it and the Lieutenant Governor, but also due to Texas's plural executive.

The judicial system of Texas has a reputation as one of the most complex in the United States with many layers and many overlapping jurisdictions.  Texas has two courts of last resorts, the Texas Supreme Court which hears civil cases and the Texas Court of Criminal Appeals.  All members of these two courts are elected statewide.

Hospital/Healthcare Facilities

The Lakeway Medical Village is a prominent, community-changing, medical campus in Lakeway, Texas.  The development provides a state of the art hospital (Baylor Scott &  White) with unmatched quality, medical office buildings, retail, and senior housing.

 

 


 


 


 


 



 

 

 



 

 

 

William P. “Billy” Glass
bglass@gentrymillscapital.com
972-759-7705 Direct Line
817-454-7555 Cell Phone
972-759-8405 Fax Line

Rebecca L. Welch
bwelch@gentrymillscapital.com
972-759-7706 Direct Line
469-337-7199 Cell Phone
972-759-8406 Fax Line