Known as The District, the mixed-use development first announced in 2017 by developer Mark IV Capital broke ground eight years later, on March 6.
The first building to go vertical—a seven-story multifamily residential building with 316 units according to project information filings—was designed to be just as attractive from the roof as the curb, with plans indicating that buildings could be as tall as 15 stories.
The walkable development promises over 4 million square feet of residential, hotel, retail, restaurant and office space on a 65-acre plot of land, said Randall Tuller, senior vice president at Mark IV Capital.
While the project is expected to generate tax revenue for the city, developers also hope it will serve as an example of how a community with limited space for growth can expand upward instead of outward.
The big picture
Mark IV Capital began preparing the Louis Henna and Greenlawn boulevards site in February. The groundbreaking marked the start of work to lay roads, water, electric lines and other infrastructure for the development, Tuller said March 6.
The project will include homes, offices, residential and retail space, with a reduced focus on offices due to the post-pandemic market crash, said Bradley Dushkin, Round Rock’s planning and development services director.
“We like to say we build for generations. We really take our time to get things right,” Tuller said.
The firm’s first office building, 100 Marshall, is fully designed, permitted and preleasing tenants, Tuller said. His team has also completed the design for the first phase of multifamily residential. Plans for the next four phases will be determined by market demand, said Bob Boone, the company’s vice president of development and asset management.
As of the ground breaking, Tuller said the firm is actively engaging with future tenants, but is not yet ready to announce which businesses will be some of the first to take up residence in The District.
The details
Jeff Ervin, principal at STG Design, said The District’s taller office buildings will function almost as a wayfinding “clock tower” for the area.
“Our office buildings—some are high-rise, which gives you amazing views of downtown [Round Rock],” Ervin said.
He said he wants The District to be a draw for the community, not just those who live and work there.
Additionally, Tuller said it expected to capture some of the working community across SH 45, at the world headquarters of Dell Technologies.
The District is expected to bring about 5,000 jobs to the area in staffing office, hospitality, restaurant and retail businesses.
Part of this design includes pedestrian-only streets known as paseos, and livable streets, which allow some traffic but prioritize wider sidewalks, Ervin said. Along with parklets, plazas and courtyards, a central green space ringed by several restaurants—a food and beverage plaza—will provide a space intended for the greater community to enjoy.
“It’s going to be experience-driven retail—not just a place to go park and eat, and then get back in your car and leave,” Tuller said. “It’s going to be a place that’s inviting—a place that people are going to want to stay.”
Plans for the district, once completed, include:
- Shops and restaurants not already available in Round Rock
- 5,000 new office, hospitality, restaurant and retail jobs
- Walkable, low vehicular traffic streets
- Multifamily high rises, townhomes and condos
Under an agreement struck with the city of Round Rock, Mark IV must construct several million square feet of space by 2039.
Tuller said the developer plans to lay out all of the infrastructure at once to support about 4 million square feet of space.
Of the total space, 20% is required to be used for commercial and retail purposes. With the density of the project, Dushkin said The District’s economic impact could exceed initial estimates for tax revenue.
Per the economic development agreement, Mark IV is required to invest $500 million into the project during the next 20 years, while the city will invest $25 million for infrastructure, as long as project milestones are met. The District is also estimated to generate $2 million in sales and property tax revenue annually.
What they’re saying
The District could inspire taller and more dense builds throughout the city. Mayor Craig Morgan said he always thought Round Rock would go vertical “at some point.”
Lifelong Round Rock resident Emma Pabst said she looks forward to taking advantage of the restaurants and communal spaces.
“It’d be good if there was another place in Round Rock where people could go to eat, drink and hang out, kind of similar to downtown Round Rock,” Pabst said.
Another longtime resident, Marta Huisson Graham, said she’s concerned about the traffic the project could bring to the area.
What’s next
The first phase of the development is expected to be completed in Q1 of 2027.
Mark IV is required to construct 200,000 square feet of space by 2028, followed by 1 million square feet by 2029 and 3 million square feet by 2039.
Over the next 20 years, the net tax revenue to the city is expected to be about $40 million.
The development will be something new for Round Rock, a suburb with little in terms of urban development.
Dushkin said he hopes its success will allow for more amenities to come into the city for residents to enjoy.
“Hopefully it will prove that a development like this can be successful in the city so that we can provide more amenities for our residents,” Dushkin said. “Round Rock is still going to maintain a generally suburban feel.”
