$200M residential, retail and hospitality center – The District – coming to Round Rock

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Updated 4:28 p.m.:
Mark IV Capital Inc. announced Wednesday it will build The District, a master-planned residential and commercial development at SH 45 and North Greenlawn Boulevard in Round Rock.

A memorandum understanding between Mark IV and the City of Round Rock directs the California-based real estate firm to invest $200 million of private capital in the development, which will bring residential, retail and office space to the southern end of Round Rock.

The development will be located on 65-acres of property and will provide approximately one million-square-feet of mixed-use space.

“Here we are today on the cusp of a brand new development that is going to be very exciting for this entire region,” said Round Rock Chamber Vice President of Economic Development Ben White.

Mark IV Chief Executive Office Paul Cate reported the development company is in discussions with retailers, grocers and other commercial residents, including a medical office, to occupy “at least one million-square feet” of office space at The District. Mark IV indicated hotel buildings will also be included in the development in the Round Rock Chamber’s press release Wednesday.

“Our intent is to provide a mixture of high quality office, residential, hospitality, and retail uses to create a dense, mixed-use environment” Cate said in the press release.

The District will also feature an estimated 900 units of residential space.

“It’s all multifamily and we expect a range of affordability. We expect it to be cheaper than comparable mixed-use projects,” Cate said.

For the time being, Cate cautions against a comparison of The District to Northwest Austin’s mixed-use development district The Domain. The Mark IV CEO called The District a “highly walkable” community, and the initial site plans lay out designs for several “pocket” parks scattered throughout the development.

Additionally, Cate claims The District will focus on bringing in local retailers, eschewing national chains or retailers.

“The retail component we are trying to create is more local,” Cate said. “We think of it as a product that is unique.”

The District will be Mark IV’s third major development in Round Rock. The real estate firm opened its first building, Summit I at La Frontera, in 2013 and is expecting to complete Summit II at La Frontera in 2018.

Round Rock City Council is now set to vote Thursday night on the memorandum of understanding and allow Round Rock Mayor Craig Morgan to execute the deal between Mark IV and the city.

According to the Round Rock Chamber, the city intends to establish a public improvement district to provide further funding on the project.

12 comments
COMMENT
  1. Where is SH 45 and North Greenlawn? There really isn’t a north Greenlawn that recall other than where Dell building 8 is located.

  2. My guess is that this is the North side of the intersection where the HEB @ Greenlawn is. Either that or it is across Greenlawn from HEB and further down — where Greenlawn T-intersections with Pflugerville Parkway there is a large empty parcel of land.

  3. I’m guessing it’ll be that section of land (since the article states 65 acres) that is across Greenlawn from the HEB, behind the business that front the 45 access road, backing up to Target?

  4. Have they gone absolutely crazy??? While I realize that I am totally naive to think that they might be concerned with overbuilding an area and overburdening roads, isn’t there any concern for open space and agriculture in the area? Traffic (especially at the I-35/I-45 on/offramps) is already awful, why would you want to add thousands more cars per day? Nine hundred residential units plus commercial plus office is TOO much. While I realized when we moved here that the cows wouldn’t stay in the pastures too very much longer, I really don’t think this is what we need to replace them with.

    • Don’t forget that all of the housing they have been building along the road is much denser than the single family units they were building in the 2000’s. Also don’t forget the fleet of UPS vehicles that will be added once that depot is finished.

      They should at least make these projects dependent upon completion of the access roads between access roads between Donnel Ln to Red Bud Ln/Heatherwilde Blvd.

  5. How much traffic do they think they can run down this single road. We are truly headed for a FM 1960 (located in North Houston) type nightmare that makes I-35 congestion look like child’s play.

  6. Seems this should go up at LaFrontera to get a boost in that area. The old Garden Ridge shopping mall has not even filled up. Louis Henna/frontage of SH 45 is so very hazardous to get on to from the commercial businesses and residential areas (Remington Heights/Warner Ranch/Somerville)….someone is going to get killed before anything is done to fix the traffic in these areas.

  7. Richele Fowler

    Those dang Californians. Hope this raises our nearby home sales value. Gotta get away and sell now to avoid the new hipster Domain. Area which takes over the nice pasture land by my home.

  8. So sad to see this pretty land go. I love looking out and seeing the cows and the sunset. Felt like a little piece of country in all this city congestion. Shame.

  9. Anthony Nguyen

    Looks like the people in Round Rock knows how to save money. This is only costing $200M. The Pecan District in Pflugerville wanted $1.2B for a similar sized lot development. I think Pflugerville over estimated something..

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Iain Oldman

Iain Oldman joined Community Impact Newspaper after spending two years in Pittsburgh, Pa., where he covered Pittsburgh City Council. He additionally worked with an investigative news organization where he reported on environmental topics and was a featured writer for Epicast Network, a Pittsburgh podcast company. Iain has now transitioned full-time into covering Round Rock, Pflugerville and Hutto.

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