Point Venture is a resort community located on Lake Travis about eighteen miles northwest of Austin in western Travis County. This lakeside development began in early 1969 when Houston oil man and developer Joel M. Cummings, along with developer W. C. "Bill" Canfield, bought a large tract of land situated on a peninsula known as "the Point" on Lake Travis. The men soon brought in two more partners, W. S. "Woody" Gaylord, Jr. and Lawrence Clayton Smith, and the group named their project Point Venture. Construction progressed with the building of roadways, recreation facilities, a clubhouse, and town homes. Additional amenities included a yacht club and the operation of the only lake ferry in Texas. Point Venture incorporated as the Village of Point Venture in the late 1990s and implemented a mayor and council form of government. By 2000 the population was 451.