The LATEST on Crystal Falls, Austin's Largest Master Planned Community

Update on latest events and status of Crystal Falls, Austin's Largest Master Planned Community First broke ground: 1997 Acres: 5,000 Homes: 10,000 Price Range: Low $200,000s to $1 million+ Builders: David Weekley Homes, Drees Custom Homes, Mercedes Homes, Perry Homes and more The HOA Community Newsletter is "The View at Crystal Falls" Landscaping must be "indigenous to the Native Texas Hill Country"- in other words- NATIVE.

The developer of Crystal Falls states that the development is "hitting on all cylinders and should be in the top three communities for growth in the Austin Standard Metropolitan Statistical Area for 2008."

"There is not a better place in the world to be a developer today than Leander," Hinckley said. "[Leander has] cooperative city staff, blitzkrieg growth and all the utility infrastructure issues resolved. Add the beauty of the land we possess and it paints a pretty picture as to the future of Crystal Falls."

More than 1,100 homes have already been built, and Hinckley estimates the community will reach 10,000 homes when it is completed.

The development has been so successful that in late 2006, Orlando-based Avalon Group offered Hinckley close to $100 million for the development. "The price was too good to pass up at the time," Hinckley said of The Lookout Group's difficult decision to accept the offer.

Before the deal could be completed, the Avalon Group backed out in February 2007, citing the subprime mortgage crisis and national builder jitters as reasons. Dropping out cost the Avalon Group "earnest money in the millions" and an "untold amount of sunk costs in planners, consultants and lawyers," according to Hinckley.

Now that the new 183A Toll road has opened, the New HEB Plus, the 2nd largest H-E-B in the country Crystal Falls is even more attractive.

Crystal Falls extends from 1431 on its southern bounday and Nameless Road on the West. It extends to near Lake Travis and may provide a western road to Leander.

"Road construction and accessibility breed economic development," City of Leander Economic Director Kirk Clennan said. "The more access that you have to your community, the more efficient your location is in moving goods and services."

Sprague said that Leander will likely see "nice, steady growth" over the next two years. "We have been quietly assembling this property waiting for Austin to come to us, and it's here," Hinckley said. "We did not want this to be another cookie cutter subdivision. We are glad to be back in control. This is our baby."

The developer of Crystal Falls is Bill Hinckley, president of Houston's "The Lookout Group"

Mr. Kirk D. Clennan, CEcD is the

Director of Economic Development for the

City of Leander

200 West Willis Street

Leander TX 78641

512.528.2852 phone

512.528.2833 facs

512.922.6793 mobile

kirk@ci.leander.tx.us

E-mail or call Betty Saenz: Betty Saenz REALTOR® GRI, SRES® (Seniors Real Estate Specialist) Leander Planning & Zoning Commissioner Place 6

(512) 785-5050