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Development Agreement Approved for MXU Project

The Round Rock (TX) City Council unanimously approved a development agreement with Mark IV Capital to move forward on the 65-acre District, the city’s first mixed-use development. The project is planned on 65 acres south of SH 45 and north of Greenlawn Boulevard, and will include office, hospitality, retail and residential product, as well as parking space.

Under the agreement, California-headquartered Mark IV will develop at least one million square feet over the next 20 years, and will invest a minimum of $200 million into the project. It also means that Round Rock will need to invest a maximum of $12.6 million in public infrastructure for the project.

The construction timeline outlined requires at least 120,000 square feet of building space to be completed no later than three years after the agreement is effective. If approved, The District’s first building could be completed by February 2022.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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