Garage condominium spaces replace man-caves for automotive enthusiasts
Garages of Texas recently broke ground in Austin (Lakeway) on their latest luxury garage condominium project.
Referred to by the developers as an ‘ultimate motorist’ playground – condominium garage spaces bring new form and function to the concept of what formerly was known as a ‘man-cave’.
These luxury garage space condominiums have become very popular all across the country as ideal places to store exotics, performance and vintage vehicles and all manner of other toys.
In addition, they allow maintenance and other work to be done without compromising the garage at home – plus they provide a community of persons with similar interests to share.
Garages of Texas Austin (Lakeway)
The Lakeway project from Garages of Texas offers first class, completely customizable, garage suites in a fenced and gated 24-hour access compound with paved access, exterior lighting and landscaping
The garage spaces can be used for cars, trucks, RV’s, boats, motorcycles or just about anything else an owner needs a private and secure space for.
Each garage comes fully sprinkled and includes individually meter HVAC with thermostat for each unit. All units are plumbed for water and sewer; wired for phone, cable and internet and equipped with basic lighting and outlets.
Garages of Texas in Lakeway has 79 ground-level garage suites in six buildings. Suites range from a footprint of 20×40 feet up to 40×50 feet. All units include a load bearing partial mezzanine yielding total usable space from 1,333 to 2,666 square feet.
Prices start at $187,250 for a 1,333 square foot sheetrock finished shell. Purchase of a suite includes membership in a condominium owner’s association.
There is a community clubhouse with entertainment space, showers and restrooms for owner use.
Exterior maintenance, utilities and security is provided through a monthly HOA fee based on unit size. Developers estimate those fees to start at about $150/month.
Owners are free to finish out their unit to their tastes and or needs including installation of lifts for vehicle maintenance and or storage. Build-outs can be arranged through Garages of Texas or contracted by the owner subject to condominium and local regulations.
The project is located along RM 620 in Lakeway at Lake Travis – North of Sandees Hamburger Hut – on the hill behind Grumpy’s Saloon. Local car buffs can tell you where.
Construction is expected to take 12-14 months
Noting our earlier mention of the popularity of similar luxury garage suite projects across the country – we are told interest in the area is high with 32 units already sold.
Investment and Community
These are true condominiums that you purchase, finish to suit your needs and own as a commercial or personal property much like your home. Owners in other locations have created office and shop spaces, recreation and display areas and decorated their space as it suits them.
Ownership creates equity and asset appreciation over time. Depending on how one finances the purchase, a fixed rate loan is stable over the ownership period, while rent rates increase. Depending on the use of the property, there may also be tax benefits available that improve personal asset portfolio value.
In addition, owners are encouraged to create unique communities of interest with other owners. For example, several other Garages of Texas locations have developed ‘Cars and Coffee’ groups with regular meetings and activities.
10 Locations in Texas
The Lakeway (serving the Austin metroplex) facility is the second location in Central Texas, joining another in San Antonio. There are eight other locations in Texas primarily serving the Dallas and Houston metropolitan markets.
In addition to Austin at Lakeway and San Antonio, garages of Texas are located in the following cities: Dallas (Lakeview), Plano (Willow Bend), Allen (StarCreek), Roanoke, Frisco, Carrollton, Houston (Katy) and Houston (Woodlands).
As of this writing, with the exception of Plano, garage suites are available in all locations.
Location information can be found here: https://garagesoftexas.com/locations/
For more information on Garages of Texas go here: https://garagesoftexas.com/.
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