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August 31, 2016     Hays Free Press
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HaysFreePress.com ree l r ss August 31, 2016 Page 1D COURTESYPHOTOS A 560-acre property owned by Salt Lick owner Scott Roberts will soon be a residential development with 31 homesteads and a 200-unit lodge and spa. BY MOSES LEOS III News-Dispatch Editor Progress toward a 560-acre tract of land that will soon hold a new mixed-use development surrounding the Salt Lick restaurant in Driftwood continues to move for- ward. For Salt Lick owner Scott Roberts, whose family has owned the property for more than 100 years, ensuring development falls in har- mony with the surround- ing land was imperative. Roberts' planned development, called "Driftwood," has been in the works for roughly 12 years. The project came about after his family de- cided to change the land use, as they couldn't use it for its original purpose as a cattle ranch. While the family wanted to continue to be involved with the land, Roberts said they also wanted to share it with others as well. "It's a beautiful tract of land," he said. "It'd be a waste for just one family. It needed to be shared somewhat." What Driftwood could share with area neigh- 4,500 square feet, with team. bets is retail and residen- home site prices starting Features include tial space, along with a at $350,000. Driftwood!imiting. the amount of lodge and spa, an events would also feature a 200- lmpervaous cover on center and a hotel, unit lodge and spa. Build the property to only 17 Thus far, the main out is expected over the percent. Roberts said entryway has been next three to five years, estimates could have constructed and 31 Maintaining an the amount of impervi- home sites have been environmentally sensi-ous cover limited to 14 prepared. Home sites in tive design was also the percent. He also said 90 the development have a prime focus for Roberts percent of drainage in footprint of a maximum and his development the property is "open flow." Roadways, which are typically 120 to 180 feet due to drainage features on the sides, would be limited to 32 feet due to overland drainage, in ad- dition, he said roadways were "hand cleared," with contractors suc- cessfully relocating 165 trees. The development received a permit from TCEQ for rainwater cap- ture from rooftops, with the resulting water used for irrigation on the land. He said the development received a private con- sultation from the Texas Department of Fish and Wildlife, which said in a letter the development would have "no impact on endangered species on the habitat." Roberts said the development obtains surface water from the West Travis County Public Utility Agency (WTCPUA). "The water running off is pure enough to protect the ]Barton Springs] Salamander," Roberts said. The property will also have roughly 200-acres DRIFTWOOD, 4D STAFF REPORT population growth rate, T-298. Hartford, CT job growth rate and Top Ten Best Real-Estate ~er Best vs= Anyone living in the unemployment rate. Markets: Austin Metropolitan Area The study took samples in 1. Frisco, TX knows that housing is tight, three different population2. McKinney, TX And according to the sizes: Large cities - more3. Richardson, TX San Mateo, Calif., has the lowest latest WalletHub study, the than 300,000 people; 4. Murfreesboro, TN percentage Of homes with negative best real estate markets Medium cities - 150,000 to5. Austin, TX equity, 1,9 percent, which is 27 times lower than in Hartford, Conn., continue to be in Texas, with 300,000 people; and Small 6. Allen, TX the city with the highest, 51.2 Texas claiming six of the top cities - fewer than 150,000 7. Overland Park, KS percent. ten spots in the nation, people. 8. Thornton, CO . Berkeley, Calif., has the lowest Wa]letHub analyzed 300 9. Plane, TX average number of days until a U.S. cities across 16 key A look at the average 10. Arvada, CO house is sold, 38, which is 4.9 metrics to put together number of days until a times lower than in Paterson, N.J., a prospective home house is sold puts mostly Top Ten Worst Real- the city w~h the highest, 186. buyers list. Those metrics California and Washington Estate Markets: Simi Valley, Calif., has the lowest included a look at the cities in the top 5: 291. Baltimore, MD vacancy rate, 2,40 percent, which average number of days 1. Berldey, CA 292. Waterbury, CT is 15.1 times lower than in Miami on the market, percentage 2. Seattle, WA Beach, Fla,, the city with the of homes selling for a 3. San Mateo, CA 293. Hartford, CT highest, 36,17 percent. gain, median home-price T-4. Sunnyvale, CA 294. Fall Riber, MA Detroit has the lowest home price appreciation, home sales T-4. Bellenue, WA 295. Flint, MI as a percentage of income, 131 turnover rate, rent-to-sale T-4. Santa Clara, CA 296. Cleveland, OH percent, ~ich is 11.5 times lower price ratio, foreclosure rate, 297. Elizabeth, NJ than in Santa Monica, Calif., the mortgage delinquency and Where do homes sit the 298. Detroit, MI city with the highest, 1,508 percent. more. longest, waiting for a sale? 299. Paterson, NJ Austin, Texas, Lincoln, Nebr., and In addition to the real A look at the bottom 5 300. Newark, N] Livonia, Mich., have the lowest estate market, the study include: unemployment rate, 2.5 percent, looked at the affordability 295. Waterbury, CT For more information on which is 4/6 times lower than and economic environment 296. Paterson, NJ the report, go to wallethub, inYuma, Ariz., the city with the of the cities, including 297. Flint, MI com/edu/best-real-estate- highest, 11,4 percent. maintenance affordability, T-298. Detroit, MI markets/14889 Invl can Financial Focus by Janet Ross N'ext week, we ob- serve Labor Day, a celebration of the American worker. And there's a lot to celebrate, because our workers have accomplished great things and, in the process, demonstrated a variety of impressive character traits - many of which also can be useful to investors. For example: Perseverance - Have you ever read about an inventor who failed doz- ens of times before finally hitting on a winner? Or a scientist who studied the same problem for de- cades before discovering a revolutionary solution? All kinds of workers dis- play this type of perse- verance, in one form or another. As an investor, you, too, will need this "stick-to-itiveness" be- cause you will face chal- lenges. Markets will drop, individual investments may disappoint, tax laws may change, and so on. But if you're patient, and you follow a long-term strategy that's based on your needs, risk toler- ance and time horizon, you can overcome those obstacles that may be blocking progress toward your goals. Inquisitiveness - During your own work, you've probably found that you can improve your effectiveness simply by asking a few questions or otherwise learning a little more about your tasks at hand. As an investor, you'll also find that knowledge is power - because the more you know about investing and investments, the bet- ter prepared you can be when making decisions. Sometimes, this knowl- edge can help you look past the so-called experts who are touting the "next hot stock." Other times, your curiosity may lead you to find new opportunities. In any case, learn as much as you can, and if you work with a financial profes- sional, ask questions - as many as necessary. The investment world is fascinating, and it can be complex- but it is also understandable to those who make the effort. Flexibility -when something isn't work- ing, you may need to try another approach. Successful workers know this - and so do success- ful investors. 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