AUSTIN (Austin Business Journal) – Local residential developer Kerby Development LLC is finalizing entitlements on Rocky Creek Ranch, nearly 500 acres that will be home to a $40 million upscale subdivision in Travis County.

The subdivision, also called Rocky Creek Ranch, will eventually include as many as 464 homes priced from $500,000 to $1 million. The land is southwest of the Hamilton Pool Rd. and Crumley Ranch Rd. junction. Groundbreaking will be in the next few months.

Kerby Development purchased the tract last year with many of the approvals already in place for a subdivision. The company will leave 310 acres of the property undeveloped to preserve the Hill Country landscape.