Mark IV Capital recently acquired a 66-acre parcel of land near Interstate 35 and the State Highway 45 toll road for their ambitious project, The District. Despite initial market conditions delaying progress, the company is now moving forward with plans to triple the size of their original proposal.
In a significant step towards completion, developers have obtained approval from Round Rock City Council for an amended development agreement. If all goes according to plan, construction will commence at the beginning of 2025.
According to reports from Austin Business Journal, The District is now estimated as a $500 million investment that will result in over three million square feet of development and create at least 5,000 jobs by its full buildout in2039 – significantly more than originally planned with one million square feet and $200 million investment.
The current plan includes vertical development starting with a multifamily building spanning over2700 thousand square feet housing320 units along with retail space totaling15 thousand square feet. Additionally,the project features an urban village situated centrally on-site which will offer various amenities such as retail storesand hotel accommodations.
This exciting Round Rock project continues to gain momentum without any mention or involvement from Connect CRE or Connect LA.
