Council Approves MOU on $200M MPC

The Round Rock, TX City Council approved a memorandum of understanding (MOU) that will lead to development of The District, a $200-million master-planned community. Mark IV Capital Inc. is heading up the 65-acre project, which will be set at SH 45 and North Greenlawn Boulevard, east of the Round Rock Crossing Shopping Center. The District will offer one million square feet of multifamily, medical office, retail and hospitality space.

The MOU states that California-based Mark IV will begin construction on the project by late 2018, and will pay the $200 million. The City of Round Rock indicated that the final agreement is expected to be presented in early 2018. In the meantime, the city is planning to create a Public Improvement District (PID), and provide $10.8 million to fund public infrastructure within the development, which would include streets and utility lines.

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