This will be a manmade and four acre Crystal Lagoon named Leander Springs. Such lagoons have become a popular feature in master-planned communities in the state.
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The development will be located near FM 2243 and Highway 183-A. It will feature a full-service hotel and conference center, up to 1,600 multifamily residential housing units, retail shopping, parkland and a 4-acre crystalline lagoon. The lagoon will be the centerpiece of the commercial development and it will be surrounded by 10 acres of boardwalk and other amenities.
An Austin-based company called iLand Development Group will build the development. Some of its previous projects include condo and retail developments in the Austin area.
In October 2020, Leander Mayor Troy Hill announced the city would join a partnership to develop Leander Springs. The city approved up to $22 million in performance-based tax incentives for the project.