A new planned development of over 500 new homes comes not a moment too soon in Austin. 

Progress has begun in the development to be named The Parten, which will contain up to 575 new homes that are in high demand in the Austin area, according to a report from KVUE. Demand for housing is high and supply is low in recent months as housing prices skyrocket and homebuyers scramble to find a home to purchase. 

The Parten will be located south of Nutty Brown Road on Ranch Road 1826. The starting price for a home will be $400,000 and peak at approximately $800,000. 

The Parten development may have the potential to be a highly sought-after community since it has proximity to several attractions and accommodations in the area. It is close to The Salt Lick, Solaro Estate Winery, Duchman Family Winery, Driftwood Estate Winery, an H-E-B, Alamo Drafthouse and more. The community will be a part of the highly-esteemed Dripping Springs Independent School District. 

Aside from businesses and services, the neighborhood also has accessible hiking and walking trails, open recreational fields, a stream that is ideal for fishing, a swimming pool and more recreational accommodations. 

The development comes at a time when Austin is rapidly growing and professionals are being attracted to the area. Because of this, demand for housing has risen quickly. While the new developments do not necessarily represent highly affordable options, they do provide much-needed supply at a relatively agreeable rate. 

The Parten is just one of dozens of housing projects sprouting up all over the state of Texas to meet the rising demand. Another development, Thunder Rock, is planned for later this year to provide another 2,000 homes for the Austin area.