It's just the beginning of a very ambitious project! It will be the closest 1:1 scale of Laketown as seen the movie; The Hobbit. All major places seen in the movie will be added, such as the Town Hall, and Bard's house, and much more.

In accordance to the most popular Erebor build on Planet Minecraft.
http://www.planetminecraft.com/project/erebor-the-lonely-mountain/

Lake-town, also known as Esgaroth or "Esgaroth upon the Long Lake", was a small settlement and community of Men in the northeastern part of mapped Middle-earth. The town was constructed entirely of wood and stands upon wooden pillars sunk into the bed of the Long Lake, south of theLonely Mountain (Erebor) and east of Mirkwood. It seems that the town's prosperity was built on trade between the Men, Elves and Dwarves of northern Middle-earth.

-Lord of the Rings Wiki
http://lotr.wikia.com/wiki/Lake-town

*Like Tolkien-realted Minecraft Builds? Visit the Official Minecraft Middle Earth Server!* This build is not related.
www.mcmiddleearth.com/