The brainchild of 1-800-Contacts founder Jonathan Coon and Four Seasons Hotel and Resorts will soon come to fruition with plans for multimillion-dollar lakefront residences by Lake Austin.

Updates on the project, which was first proposed by Coon three years ago, came out Tuesday, confirming that Coon and his development team were partnering with Four Seasons to create The Four Seasons Private Residences Lake Austin. This is Four Season's first standalone residential development in the state, joining the ranks of current locations in London, Los Angeles and San Francisco.

The development sits on 145 acres and will create 179 units that will range from smaller vacation homes just under 2,000-square feet to 7,000-square foot penthouses.

The luxury residences will sprawl across a stretch over a picturesque hillside overlooking Lake Austin. (DBOX for Austin Capital Partners)

The luxury homes will start at $4 million and will emphasize comfortability, beauty and privacy. In addition to units that soak in views from multiple directions, the development will include an indoor garden, an athletic center and spa, a private two-story restaurant, clubhouse and theater.

Half of the cliffside views will also turn into a public overlook above the lake and will include free parking, similar to a nearby Pennybacker Bridge overlook located just west of the property.

According to the Austin Business Journal, Coon said that developers will break ground in early 2023 and should be completed by the end of 2025.

In addition to Coon and Four Seasons developers, others working on the project include executive architects Handel Architects LL P and Page Southerland Page, Inc., project engineer Arup Group Ltd. and sales and marketing team Eric Moreland Group.

Coon said the homes will be made with care for a special reason—he and his wife will also be living on the property.

"Our goal is really to maximize the customer experience, probably because we plan on being customers," Coon told ABJ.

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