New Eastwood Community will have 1,335 Homes

MANOR, Texas – (Realty News Report) – Two Houston real estate firms have joined forces to develop a $1 billion community in Manor on the east side of Austin.

A joint venture of Foxgate Capital and Cole Klein Builders acquired 458 acres to develop Eastwood – a mixed-use community that will have 1,335 residential lots and 97 acres of commercial and retail development along Blake Manor Road.

Upon completion, Eastwood is expected to have an assessed value between $900 million and $1 billion, according to Eastwood Ventures LLC, the joint venture formed to develop the project.

The seller of the land, long-time Austin-area developer John Lloyd, had held the property for more than 20 years. Seth Green, a partner at ICO Commercial, assisted in the land deal.

Eric Houston, president of Foxgate Capital. a private equity firm involved in single-family, multifamily and industrial. Cole Klein Builders was founded by Vanessa Cole and Harry Klein.

“Eastwood offers something that is becoming increasingly difficult to assemble in the Austin market. meaningful scale, substantial commercial frontage and a location supported by real population and employment growth,” said Harry Klein, co-founder and CEO of Cole Klein Builders. “We own the land, we understand the opportunity, and we are ready to sit down now with builders who want a significant position in Manor’s next chapter.”

Manor has experienced significant population and economic growth. The U.S. Census Bureau estimates that Manor’s population reached 23,070 in 2025, an increase of 68.7 percent from its 2020 population base of 13,674.

Retailers are seeking positions in Manor. Manor’s first H-E-B – a 101,000-square-foot store at U.S. Highway 290 and FM 973 – opened in October 2025, providing a highly visible signal of the market’s expanding consumer base.

The Eastwood community will also positioned within the broader eastern Austin employment corridor supported by Tesla’s Giga Texas campus – which encompasses approximately 2,500 acres and more than 10 million SF of factory floor. Eastwood is about 10 miles from Samsung’s new semiconductor manufacturing facility. Samsung has announced projected regional investment of more than $37 billion associated with its Taylor and Austin manufacturing ecosystem.

“Manor has crossed the threshold from a future growth story into a market with measurable population growth, major employment drivers and expanding retail demand,” said Eric Houston, president of Foxgate Capital.

image: Courtesy Eastwood Ventures.