Matthew McConaughey And Drew Brees Among Early Buyers Willing To Spend $1.25 Million For Membership To The Exclusive Austin Surf Club

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Matthew McConaughey And Drew Brees Among Early Buyers Willing To Spend $1.25 Million For Membership To The Exclusive Austin Surf Club

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is not usually associated with surfing, but plans to construct an exclusive surfing community in the landlocked Texan city is attracting a plethora of interest. Matthew McConaughey, skateboarder Tony Hawk, and NFL great Drew Brees are among the buyers willing to spend $1.25 million to become members.

Not yet built, the Austin Surf Club, according to the

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, is being developed by Arizona-based Discovery Land Co. in partnership with famed surfer

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. The site, which sits at the former home of

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, broke ground in January.

There are plans for 140 condos and homes, a brewery, cafe, restaurant, and clubhouse, all surrounding a huge artificial pool generating surfable waves, according to the

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.

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According to the ABJ, buyer meetings were held at large sporting and cultural events in the US, such as the Formula 1 United States

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, the Stagecoach Festival in California, golf tournaments, and Art Basel in Miami.

Documents viewed by the Journal show a $550,000 budget set aside for schmoozing potential clients. As of November, there were 49 total sales totaling $98.3 million in revenue, including 12 surf memberships at an average of $1.25 million, while home site sales average of each of the 30 homesites costs around $2.25 million, according to the report.

“Austin Surf Club will be the first-of-its-kind, lifestyle community in Texas built from the ground up, designed with sustainability in mind,” the developers said in a statement to ABJ.

Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —

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Austin’s median home ***** price dropped 2.7% between 2024 and 2025, according to a recent report from brokerage

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. This represents the largest drop among the 50 largest metro areas in the country. The fall has been due to an oversupply of new homes. On average, a typical home in Austin sits on the market for 91 days, according to the report.

Austin’s hopes of recovery have been hampered by the prospect of tariffs which could impede the absorption rate of new constructions. “Our market here was showing signs of price stabilization after unprecedented declines,” Scott Turner, founder of Austin-based Riverside Homes, told

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“The 3% interest rate ‘hangover’ finally wore off at the beginning of the year but the economic uncertainty caused by tariffs and the risk of recession definitely affected their mentality, making them more cautious and leaving housing inventory levels at nearly an all-time high.”

Austin was once the poster child for the popularity of the new South during the pandemic. High-paying tech jobs and a lower cost of living

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, wary of high taxes or bad weather.

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shows that between February 2020 and May 2022, the median ***** price of a home in Austin increased by over 60%, reaching a peak of $659,500 before beginning to fall. Today, the median ***** price is $512,500 a year-over-year decline of 0.49%.

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