Round Rock Breaks Ground on New $500 Million Mixed-Use Development With Shopping, Offices and Multi-Family Homes
The District, similar to Austin’s popular luxury shopping center The Domain, will support Round Rock’s rapid growth
Round Rock is making a $500 million investment to keep up with the city’s rapid growth. On Thursday, March 6, developers Mark IV Capital and W.E. O’Neil Construction broke ground on The District, a 65.5-acre mixed-use development at the corner of Greenlawn Blvd. and W. Pflugerville Pkwy. The development, which has been in the works for eight years, will feature more than 1,500 multifamily units, 150,000 square feet of retail and 2 million square feet of office space.
The developers celebrated the groundbreaking with community and civic leaders, including Round Rock Mayor Craig Morgan and Round Rock Chamber CEO Jordan Robinson. Guests enjoyed live music, refreshments and a 360-degree photo booth that placed them in a rendering of The District.
“This isn’t just another development, it’s an investment in the city’s future prosperity,” said Justin Basie, president of real estate at Mark IV Capital. “We’re creating new jobs in both construction today and in the businesses that will call this place home tomorrow. We’re creating a stronger local economy by attracting new businesses, new talent and new opportunities. We’re creating a place where families can build memories, whether it’s grabbing coffee with a friend, starting their first job or creating a milestone. We’re laying the foundation, both literally and figuratively, for something that will shape this city for decades to come.”
Growing community in Texas
Round Rock is one of the fastest-growing communities in Texas and the U.S. with the region’s population expected to reach nearly 2.7 million by 2030. It’s home to the global headquarters of Dell Technologies, which is the city’s largest employer. Employers in Round Rock benefit from access to over 19 million people and customers within a 200 mile radius, according to Robinson from Round Rock Chamber
The District is expected to create 5,000 jobs and drive hundreds of millions to the local economy, including an estimated $2 million in sales and property tax revenue each year. The city is investing $25 million for the project’s infrastructure, according to the economic development agreement.
“I always like to say that when you see the growth of a city, there are game changers, and there are many significant ones in Round Rock, like Dell Technologies, the Round Rock Express and Kalahari,” said Mayor Morgan. “Now, you can add The District to that list.”
Creating an urban village
Per the agreement with the city, Mark IV Capital must construct 20,000 square feet of space by 2028, 1 million square feet by 2029 and 3 million square feet by 2039. Jeff Ervin, principal of The District’s architecture firm STG Design, said the project is designed to create an urban village, where residents and visitors can easily wander from parks to shops to restaurants. It’s also laid out in a subtle grid that blends in with the existing neighborhoods.
The District will be similar to Austin’s popular luxury shopping destination The Domain, which opened in 2007. Future retail and office tenants have already signed on, but they are not ready to be announced yet.
“This isn’t just a development, it’s a statement about the future of Round Rock and the opportunities we’re creating for businesses and residents alike,” Robinson said.