Big tech has so heavily invaded Austin, Texas, that the capital city now has its own $1 million neighborhood. Here's what it's like in the affluent and exclusive Barton Creek district

Katie Canales

Feb 5, 2019, 18:00 IST

Big tech has so heavily invaded Austin, Texas, that the capital city now has its own $1 million neighborhood. Here's what it's like in the affluent and exclusive Barton Creek district

barton creek neighborhood austin texas million dollar homes 48

Katie Canales/Business Insider

The exclusive Barton Creek neighborhood in Austin, Texas, is home to some of the region's priciest real estate. It's now a million-dollar neighborhood, thanks in part to the influx of tech workers.

Austin, Texas, has its first $1 million neighborhood, according to a Trulia report published in November.
The neighborhood of Barton Creek now boasts a median real estate value of at least $1 million.
As the tech industry's presence continues to grow in the capital city, Barton Creek will only be the first neighborhood to sport the $1 million status, not the last.
We visited the neighborhood to see what it was like.

The Austin neighborhood of Barton Creek has a history of being among the city's priciest and most exclusive zip codes.

But the community has most recently made history as Austin's first $1 million neighborhood, according to a Trulia report published in November. That means that the majority of the homes in the area boast an asking price of at least $1 million.

Austin itself is turning into one of the wealthiest enclaves in Texas, thanks in part to the tech industry's expanding presence there in recent years. Software giant Oracle just completed its massive new campus along the Colorado River, Apple is building a new $1 billion campus in the city, and others - like Google, Facebook, Amazon, and Austin area veteran Dell - have footholds in the area. And those are just a few examples.

That presence is only going to get bigger, with more techies filling new jobs in the capital city, raising the demand - and prices - for homes as a result.

Barton Creek is the first neighborhood to earn the $1 million status, but it won't be the last.

We visited the exclusive Barton Creek to see what it was like. Take a look around.

Various sites cast the median real estate value in Barton Creek at different numbers — Trulia lists it at $1,020,000, Realtor at $1,495,000, and Zillow at $1,013,100.

But what's for sure is that Barton Creek is Austin's first $1 million neighborhood. The neighborhood's median home value jumped from $935,000 in 2017 to $1,020,000 in October 2018, according to Trulia.

For comparison, that's far greater than the city of Austin's overall $361,200 median real estate value, which has seen a 9.8% increase itself in the past year.

There's long been a tech presence in Austin and, as a result, a fair share of wealth.

A handful of Austin luminaries, most of them with footholds in the tech industry, recently made the annual Forbes 400 list of American billionaires.

Big tech has continued to blossom in the capital city, sending tech job growth rates — as well as growth in other sectors — upward since 2013.

Barton Creek neighborhood's home value has steadily increased since 2013 as well. But the neighborhood is no stranger to wealth — it has historically been an attractive option for the city's affluent residents.

Since tech has made itself more at home in Austin, Barton Creek has seen some of the tech elite move into the neighborhood ...

... like Aubrey Marcus, the CEO of the $28 million health and wellness company Onnit. He snagged a four-bedroom house in the neighborhood in 2012 for an unknown price.

Another former tech resident was Martin Neath, the late Austin entrepreneur who led the startup Tivoli Systems, which was acquired by IBM for $743 million in 1996. He owned this Tuscan-style villa in Barton Creek, which recently sold for $5.9 million.

Deep-pocketed clients in other fields have also flocked to the neighborhood, like Charlie Strong, a former football coach for the University of Texas.

Strong listed his Barton Creek home for $5 million in 2016 when he became the head coach at the University of South Florida.

Barton Creek is one of a handful of neighborhoods in the affluent West Austin region. The surrounding districts of West Lake Hills and Rollingwood also boast sought-after exclusivity and opulent living.

Ross Garber, the former CEO of Vignette Software — which was acquired by OpenText in 2009 for $310 million — listed his home in the Rob Roy district north of Barton Creek for $16.9 million at auction in 2016.

And right outside of Barton Creek's limits, a 128-acre parcel of land, which includes a 6,588-square-foot home, sold for almost $22 million in July 2017.

Dubbed Barton Creek Ranch, the sale set a record as the most expensive home sold in Austin's public market.

There's a reason why this area interests the wealthy. The enviable views of the rolling Texas Hill Country make for a stunning addition to a home.

Even on a cloudy, dreary day, the views are priceless.

Barton Creek is not only one of Austin's most affluent neighborhoods, but also one of the oldest. Most of the homes in the neighborhood were built after 1980 and tend to be on the larger side.

This four-bedroom home at 3707 Mist Creek Drive was built in 1985 and is for sale for $1,199,000.

However, there are a few new homes being built. A home at 4524 Peralta Lane (not pictured below), will be finished in summer 2019 and is listed for $2,795,000.

And this seven-bedroom mansion at 8106 Chalk Knoll Drive was built in 1999, but parts of it have been renovated or remodeled.

Dubbed the Chateau de Courant, it was listed for $10,750,000 in 2018, though it's currently off the market, according to Zillow.

The subdivisions within the neighborhood are spread out. There are walking paths in some places, but you probably need a car to get around.

And if you have a work commute into downtown, you almost certainly need a car.

From the Governor's Hill subdivision at the northern end of Barton Creek ...

... to the Estates of Barton Creek, another subdivision at the halfway mark down the neighborhood, is a 30-minute walk, or a four-minute drive.

And there's not much on either side of you except for forested areas and more subdivisions.

Spacious suburban-style neighborhoods are easy to come by in this area, since Barton Creek and other West Austin neighborhoods are further from the denser city center.

It looks a lot different than life in the very walkable Pacific Heights, a neighborhood in San Francisco housing the city's wealthy, high-tech elite.

Though some properties are gated, anyone is able to meander through one of the Bay Area city's most expensive and exclusive neighborhoods, and gaze at the million-dollar homes mere feet from them.

But in Austin's Barton Creek neighborhood, not so much — the lots here are huge, and the secluded homes stand further away from the street.

And even if the homes were situated closer to the street, enjoying a nice stroll to catch a glimpse of them would prove difficult.

That's because nearly every subdivision is sectioned off with security gates.

And we do mean nearly every subdivision.

Driving through the neighborhood, you'll be met with gate ...

... after gate ...

... after gate.

Some homes within un-gated subdivisions even have their own set of gates on the property.

There's also plenty of foliage for added privacy.

Some are so heavily obstructed with trees that it's difficult to catch even a small glimpse of the house.

You can spy the pillars at the entrance to this house through the trees, though.

And the dark roof of this house can be seen past a fence and tree cover.

This relatively modest white house was one of the only homes that could be clearly viewed from the street.

The luxurious Barton Creek Villas apartments, near the northern end of the neighborhood, are gated as well.

But on the particular day that we visited, the gates were open.

Inside the gates are units spanning one to three bedrooms for $1,099 to $3,299 a month, respectively.

Residency includes access to a resort-style pool, hot tub, and cabanas, just to name a few of the perks.

Barton Creek Neighborhood is also home to two top-rated private schools, including St. Michael's Catholic Academy for grades nine through 12. The tuition for the 2018-2019 school year is $21,100.

St. Gabriel's Catholic School nearby serves students from pre-K through 8th grade.

Tuition for the 2018-2019 school year runs from $10,950 for pre-K students to $19,575 for 8th graders.

Close to St. Gabriel's is a plaza, which includes a nail salon and an optometrist.

There's also a small grocery store serving dairy products, produce, and chips, among other things.

Other than that, there aren't too many businesses within the actual neighborhood. A strip mall sits near the entrance, and not far away from that is a gym, a Starbucks, and an H-E-B grocery store.

There's also the Barton Creek Greenbelt to the southeast of the neighborhood. Residents can easily hike, bike, swim, climb — you name it.

Another nearby and popular amenity within the community is the Barton Creek Country Club and accompanying Omni Resort.

Initiation fees can run as low as $13,500 for a basic Sport membership to $55,000 for a Full Golf plan at the upscale country club. All plans have additional monthly dues, too.

Members have access to tennis courts, a private heated pool, and group fitness classes ...

... as well as four golf courses: the Fazio Foothills, Fazio Canyons, Crenshaw Cliffside, and Palmer Lakeside.

Depending on which housing subdivision you choose, you're granted a Property Owners Social Membership upon moving into the Barton Creek neighborhood.

This gets you pool access, dining options, and social events at the Barton Creek Country Club.

It's an elite enclave within an elite enclave.

Luckily, you don't have to be a member to take advantage of some of the other amenities.

You can stay at the Omni Resort, which is currently undergoing a $150 million renovation. It's slated to be completed this year.

Some of the country club perks are afforded to guests of the resort during their stay.

For Barton Creek residents, the resort-style club is mere minutes away from their homes.

Some homes even overlook the golf courses.

With the median household income in Barton Creek at $155,125, residents can likely afford a club membership as well as a home in a $1 million neighborhood.

That looks a lot different than in San Francisco, a more established tech hub known for its competitive real estate market, where residents need to make more than $300,000 a year just to afford a single-family home.

So Austin is still way behind San Francisco in that regard ...

... but the neighborhood of Barton Creek becoming the city's first $1 million community indicates that some of the same impact dealt by big tech in the Bay Area has arrived in Austin.

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