News Summary
Mark IV Capital and W.E. O’Neil Construction have officially started construction on The District, a major mixed-use development spanning 65.5 acres in Round Rock, Texas. Designed to include retail, multifamily residences, office spaces, a hotel, and green spaces, the project aims to foster a vibrant community. Expected to create around 5,000 jobs and uplift the local economy, the first phase is projected to be completed by early 2027, supporting the anticipated population growth in the Austin area.
ROUND ROCK, TEXAS – Mark IV Capital and W.E. O’Neil Construction have officially commenced construction on The District, a significant mixed-use development covering 65.5 acres in Round Rock, Texas. The groundbreaking ceremony held in March marked the project’s milestone as it aims to transform the area located at the intersection of Greenlawn Blvd. and W. Pflugerville Pkwy.
The District is designed to encompass a variety of components, including retail spaces, multifamily residences, office spaces, a hotel, and green spaces. This diverse mix aims to create a vibrant community that caters to the needs of residents and visitors alike. The construction of the necessary infrastructure for the project has received full funding, with expectations to complete this phase within the next 12 months.
Justin Basie, the president of real estate at Mark IV Capital, highlighted the project’s emphasis on smart growth and the integration of various elements for a cohesive community experience. Randall Tuller, senior vice president at Mark IV Capital, described The District’s ambition as redefining mixed-use development within central Texas, with a focus on promoting economic growth and fostering community development.
Round Rock Mayor Craig Morgan has expressed optimism about The District’s potential to enhance connectivity, attract new businesses, and elevate the overall quality of life in the city. The development is projected to create approximately 5,000 jobs and contribute hundreds of millions of dollars to the local economy. It is expected to include over 1,500 multifamily units, approximately 150,000 square feet of retail space, and around 2 million square feet of office space, thus making a significant impact on the local housing and job markets.
The District also aims to accommodate the anticipated population growth in the Austin metropolitan statistical area (MSA), which is projected to near 2.7 million residents by 2030. This growth necessitates developments like The District to support the increasing demand for housing, retail, and office space.
The groundbreaking ceremony attracted numerous community and civic leaders, underscoring the project’s importance to the area. Attendees enjoyed amenities such as live music, refreshments, and an interactive 360-degree photo booth, fostering a sense of community support for the initiative.
The project team behind The District includes several esteemed firms, namely STG Design, KFM Engineering & Design, Hitchcock Design Group, Greystar, Retail Street Advisors, and CBRE Global Commercial Real Estate Services. This collaboration showcases an impressive range of expertise that will aid in delivering the ambitious project to fruition.
The first phase of The District is anticipated to be completed by the first quarter of 2027, marking a significant step towards modernizing and revitalizing the Round Rock area. With the multifaceted approach of the development, it is expected to not only meet the needs of the local community but also serve as a model for future projects aiming to combine living, working, and recreational spaces effectively.
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Additional Resources
- Community Impact: Round Rock Development
- Wikipedia: Smart Growth
- KXAN: Round Rock’s Newest Development
- Google Search: Round Rock The District
- Statesman: Round Rock Mixed-Use Project
- Google Scholar: Mixed-use Developments
- ConnectCRE: Long-Awaited Round Rock Development
- Encyclopedia Britannica: Economic Growth
- KVUE: Groundbreaking Mixed-Use Development
- Google News: Round Rock Development
