72 Condos Starting at $99K: What Canyon Lake's New Limestone Landing Means for San Antonio Investors

A former Holiday Inn Club Vacations resort on Canyon Lake is being transformed into something the Texas Hill Country hasn't seen much of: affordable, purchasable condos with short-term rental potential. KC Hospitality is converting the property at 417 April Drive into Limestone Landing, a 72-unit condominium community where prices start at $99,000 for units that need renovation and $149,000 for units that are already updated. Each condo is two bedrooms and 800 square feet.

For San Antonio-area investors, this is worth paying close attention to right now, in the heat of summer when the lake is at full swing and the demand for Hill Country getaways is easy to see.

Canyon Lake sits roughly 50 miles north of downtown San Antonio, placing it well within the orbit of buyers who live or invest in the greater San Antonio market. Communities like New Braunfels, San Marcos and Boerne have already seen tremendous price appreciation as people look for quality of life within reach of the city. Canyon Lake has always attracted weekend traffic from Bexar County, but ownership opportunities at the lake — especially at this price point — have historically been limited.

A $99,000 entry price for a two-bedroom lakeside condo is genuinely unusual in today's Texas market. Even properties that need work in established Hill Country towns often start well above that threshold. For an investor who has been sitting on the sidelines waiting for a manageable entry point, this deserves a serious look before units are gone.

The renovation-needed units at $99,000 give buyers the opportunity to add value through updates and then either rent the unit on a short-term basis, hold it as a personal vacation property, or sell once improvements are complete. The $149,000 renovated units are move-in or rent-ready, which matters if you want income flowing quickly without the work and uncertainty of a rehab project.

Casual visitors to Canyon Lake from San Antonio typically come through Canyon Lake itself or New Braunfels, which sits in Comal County and is served by Comal Independent School District. That school district has consistently ranked well in the region and continues to draw families relocating from within San Antonio and from out of state. The broader corridor from Loop 1604 in San Antonio northward through Schertz, Cibolo, New Braunfels and up to Canyon Lake has been one of the most active real estate corridors in South-Central Texas for several years.

For sellers in San Antonio who are thinking about their next move, Limestone Landing represents a real alternative worth knowing about. Some homeowners in Bexar County neighborhoods like Stone Oak, The Dominion corridor or the Far Northwest Side have built up meaningful equity over the past several years. A $99,000 or $149,000 condo could serve as a second property purchased with that equity, giving them a lakeside retreat they can use personally and rent out when they are not there.

For renters in San Antonio who have been frustrated by high apartment prices and wondering whether ownership is within reach, entry-level condos at this price point offer a different path. Financing a $149,000 condo is a very different conversation than financing a $400,000 single-family home in San Antonio proper. Monthly payments at current rates could realistically come in below what many San Antonians are paying for rent, particularly if short-term rental income offsets part of the carrying cost.

There are real questions any buyer should ask before moving forward. Condo associations come with monthly fees, rules about rentals and shared costs for maintenance and reserves. If short-term rentals are permitted by the Limestone Landing association, that opens up the income opportunity. If they are restricted, the investment math changes. Buyers should also think carefully about the renovation scope on the $99,000 units and get reliable contractor estimates before committing.

Location within Canyon Lake matters too. Units with lake views or closer proximity to the water will almost certainly command higher rents and stronger resale values than those positioned away from the shoreline. Visiting the property in person, walking the grounds and asking specific questions about which units are available will help any buyer make a much more informed decision.

What KC Hospitality is doing at 417 April Drive is converting hospitality infrastructure that already exists — rooms, parking, amenities — into individually owned residences. That conversion model can work very well when the underlying real estate has strong demand drivers. Canyon Lake's demand drivers are clear: water access, Hill Country scenery and a consistent flow of visitors from San Antonio, Austin and beyond.

If you are an investor, a San Antonio homeowner with equity to deploy, or a first-time buyer looking for a creative path into ownership, Limestone Landing is worth adding to your list of properties to evaluate this summer.