In May, the Round Rock Planning and Zoning Commission approved a motion to recommend converting the 65.5-acre plot of land into a planned unit development, or PUD. The undeveloped site is south of SH 45 N near Greenlawn Boulevard and is zoned as a C-1 general commercial lot.
The property was previously owned by Dell. About six years ago it came on the market, and the California-based developer Mark IV Capital bought it, said Brad Wiseman, Round Rock planning and development services director.
The PUD rezoning would allow for Mark IV Capital to build a development with multifamily housing, hotels, offices, retail stores and restaurants, Wiseman said.
Round Rock has traditionally been a conventional, suburban, single-family community; the new development would mark the next chapter in the city’s growth, he said. As companies move to Central Texas, The District would also double as a selling point for businesses seeking a mixed-use development for their employees.
“That’s what their employees are looking for,” Wiseman said. “A place where they can live, work and play all in the same place; they don’t necessarily need to have a long commute in the morning and at night; they can live right around the corner from where they work.”
In August 2017, the Round Rock Chamber received the results of a market study and action plan for the city. The report found that the city needed more high-end office space and mixed-use development to meet the needs of future growth.
Three months later, the chamber and Mark IV Capital announced the plans for The District, an answer to the need for mixed-use development projects.
Round Rock Senior Planner Clyde von Rosenberg said the city’s comprehensive plan, which council adopted in June 2020, designated the property south of SH 45 N as a future mixed-use project. Because the comprehensive plan helps guide zoning decisions, when Mark IV Capital expressed interest in the site, it was easy for the city to determine that The District would be a good fit for that space, he said.
“It kind of went along with what we always had in mind for that area,” von Rosenberg said.
The District could feature over 900 residential units, a hotel and over 200,000 square feet of retail, including a designated space for a grocery store, according to a 2018 project brochure by Mark IV Capital.
Having restaurants, retail and entertainment all in one place is a bonus for current residents, giving them an additional option within Round Rock to eat and shop, Wiseman said.
City Council approved the development agreement Feb. 14, 2019, with Mark IV Capital. The agreement states the developer would build at least 1 million square feet over the next
20 years and invest a minimum of $200 million. The city is expected to invest a maximum of $12.56 million in public infrastructure such as roads, according to the agreement.
In a presentation given to the planning and zoning commission, The District would have walkways, plazas, lofts, offices with high ceilings and space for local businesses, said Michele Lynch, director of land use and entitlements at law firm Metcalfe Wolff Stuart and Williams LLP.
Overall, the mixed-use development would offer a different vibe, and because it is not near neighborhoods, the location is ideal for the project, Lynch said.
Scotti Woolery-Price, Round Rock Chamber vice president of marketing and operations, said Mark IV Capital is expected to release site plans and more project information in June.
On June 10, City Council will consider approving the rezoning of the property. Mark IV Capital has submitted site plans to the city but has not announced a construction start date.