204 Underhill Rd, Austin, TX 78734

Four Seasons Lake Austin sits 380 feet above Lake Austin on a 145-acre site that includes a private funicular railway connecting the hilltop residences to a marina on the water below. The funicular is not a novelty. It is the literal mechanism by which residents access their boats, the waterfront dining facilities, and the lake itself. When a residential development installs a cliff railway as basic infrastructure, it tells you something about the scale and ambition of the project that no amount of marketing language can convey. The community is located in the 78732 zip code on the north shore of Lake Austin, occupying a prominent bluff along RM 2222 between the Pennybacker Bridge and Mansfield Dam. Views extend across the lake and into the Hill Country. Downtown Austin is about 20 minutes east via 2222 and MoPac. The Davenport Village and Four Points shopping areas handle daily errands within 10 minutes. Mount Bonnell is a short drive east along the same ridgeline. The architecture at Four Seasons Lake Austin represents something genuinely different from what exists elsewhere in the Austin luxury market. The residential buildings were designed by Handel Architects, and the interiors carry the Lissoni aesthetic, both names that carry significant weight in international architecture and design. About 60 percent of the units are contemporary terraced low-rise residences that step down the hillside, oriented to maximize lake views while maintaining privacy between units. The building forms use clean lines, natural materials, and expansive glass walls that blur the boundary between indoor and outdoor space. The remaining inventory includes larger estate-style residences and penthouses. Unit sizes range from approximately 2,000 square feet to over 5,000 square feet, with pricing that starts around $3 million and extends well beyond $10 million for the largest and best-positioned residences. This is a branded luxury development, which means Four Seasons operates the amenity spaces, concierge services, housekeeping, and common areas to hotel standards. The community falls within Leander ISD, one of the fastest-growing districts in Texas. The district has invested heavily in new campuses, and academic performance has strengthened as the tax base expanded. Families have access to well-funded elementary, middle, and high school options. The 20-minute drive to central Austin also provides access to private institutions like St. Andrew's and St. Stephen's Episcopal Schools. Daily life at Four Seasons Lake Austin is structured around the amenity program in a way that feels more like a resort membership than a typical HOA. The private marina provides boat storage and lake access via the funicular. Ciclo, the on-site restaurant, serves Italian-inspired cuisine with lake views. A spa and fitness center, multiple pools, and landscaped outdoor gathering spaces are maintained to Four Seasons standards, meaning the level of upkeep is materially different from what a typical condo HOA delivers. Beyond the property, Mount Bonnell is nearby for hiking and sunset views, and the Pennybacker Bridge Overlook provides another scenic stop. Turkey Creek Trail offers longer hikes through wooded terrain. For dining beyond the property, Jeffrey's in Clarksville is one of Austin's most established fine-dining rooms, Uchi and Otoko provide Japanese cuisine at different scales of formality, Quince Lakehouse serves New American food on the lake, and Ski Shores Cafe offers the most casual waterfront dining in the area. Four Seasons Lake Austin does not compete directly with traditional Austin luxury neighborhoods because the product category is different. Westlake, Barton Creek, and Rob Roy offer single-family homes on private lots with full ownership of land. Four Seasons offers a managed luxury experience where the building, grounds, and services are maintained by a hospitality brand. The closest comparison in the Austin market might be the Four Seasons Residences downtown or the W Residences, but those are urban high-rises without lake access or acreage. Nationally, the competitive set includes branded luxury developments like the Montage Residences in Laguna Beach or the Aman residences in Miami. The per-square-foot pricing reflects this positioning and is among the highest in the Austin metro area. Four Seasons Lake Austin is for buyers who want a residence managed to hotel standards with lake access and Hill Country views. It works for executives who split time between cities, international buyers who want a Texas base with familiar brand standards, and Austin residents ready for a simpler format without compromising on quality. The tradeoff is that you are buying into a managed system rather than owning a freestanding estate, and the price per square foot reflects the brand premium. For the buyer who understands that tradeoff, there is nothing comparable within 200 miles.