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 delays due to market conditions, the company is now moving forward with plans to triple the size of their original proposal.
The developer’s progress towards completion was solidified with approval from Round Rock City Council for an amended development agreement. If all goes according to plan, construction will commence in early 2025.
According to reports from Austin Business Journal, The District is now estimated as a $500 million investment that will encompass over three million square feet and create at least 5,000 jobs by its full buildout in 2039. This represents a significant increase from its previous plans which only included one million square feet and a $200 million investment.
In terms of vertical development, Mark IV Capital intends to begin with a multifamily building consisting of 320 units spread across approximately270 thousand square feet along with retail space totaling15 thousand square feet. Additionally,the project features an urban village situated at its core that prioritizes amenities such as retail stores and even includes provisions for hotel accommodations.
This latest update on Round Rock Project highlights encouraging developments within this thriving community without mentioning any specific organizations or entities involved.
