Mount Banal is a mountain/hill with a really nice view of the city of Austin; from the peak of the hill, you can see the UT campus, as well as the government buildings. It is a really nice view.
Also, on another angle, you can see all the beautiful homes sprinkled along the banks of the Colorado River.
You can drive, hike, or bike up there. This is on the northern side of Austin, where it is very hilly.