Located in the gated enclave of The Island, this half acre lot on Lake Austin offers the opportunity to build a dream house just minutes from downtown. Extensive entitlement work has been completed to allow for grandfathered impervious cover limits and minimum lake setbacks. Included in the sale are complete, permitted plans by Alterstudio for a fantastic seven bedroom home with detached party space, pool and boat dock. The property has 150 feet of canal frontage with two boat slip inlets. A truly unique waterfront opportunity. Acreage per survey.