Construction on the Lakeside residential development on Gaston Avenue is finally picking up.
Delays securing a construction loan meant that the property has sat stagnant for about a year. Nadine Meyer, one of the Realtors selling the development, cited a “changing financial environment which led to a new lending partner.”
Funding came through in late April, and foundations are being poured on the site. Construction on 44 townhomes is expected to begin in June.
The first group of homes was initially planned to be available last fall, but with the delays, homes are not expected to be ready until early 2024.
Meyer said they will begin “aggressively marketing” the project within the next month or so.
After all construction is complete, Lakeside will have 106 three-story townhomes. There will be a mix of floor plans offered for the two- and three-bedroom homes, which are expected to start at $500,000 each, Meyer said — an increase from the mid-$400,000 starting price announced in March 2022.
The 5-acre property is located next to the Arboretum Village shopping center, just south of White Rock Lake, offering residents easy access to the Santa Fe Trail.
It is formerly the site of The Edge at White Rock, a for-rent townhome community. Reports of a new residential development on the property came in 2020. At the time, Eastside Trail, as it was called, was intended to have 127 single-family units, including 45 flats and 82 townhomes. Over time, the flats were eliminated from the design, and the name of the project changed, too.