Round Rock Project Gaining Steam

Mark IV Capital bought a 66-acre plot near Interstate 35 and the State Highway 45 toll road for a project known as The District eight years ago. Market conditions kept the group from pulling the trigger on the project. But now, things look so good that Mark IV is tripling the size of the original proposal.

Developers took a big step toward completion when they secured approval from the Round Rock City Council for an amended development agreement. If all goes as planned, that would enable construction to start by the beginning of 2025.

The Austin Business Journal reports the project is planned now as a $500 million investment that will result in 3 million square feet of development and a minimum of 5,000 jobs at full buildout in 2039. Original plans called for 1 million square feet and a $200 million investment.

When it comes to vertical development, the plan now is to start with a 320-unit, 270,000-square-foot multifamily building that will include 15,000 square feet of retail. The project includes an urban village at the center of the property that is focused on amenities, such as retail stores and a hotel.