Lakeway offers a wide variety of things to to do. Situated on Lake Travis (Great for Motor and Sail-boating), Lakeway caters to those who love the water and all the sports that come with being on such a nice lake. Lakeway's development started out as a retirement community and second homes. There wasn't much more to Lakeway than a few homes and some boat docks. Wow, have things changed! Long-time Austin residents still can't believe the explosion of growth in this once sleepy town of Lakeway. Now it is one of the most desirable places to live, work and play.