Construction Begins on The District, a $500M Mixed-Use Development in Round Rock, Texas

Construction officially begins on The District, a massive $500 million mixed-use development in Round Rock, Texas.

Government officials gathered on Thursday, March 6, 2025, to formally break ground on The District, a highly anticipated mixed-use development in Round Rock. Located south of State Highway 45 and northwest of Greenlawn Boulevard, the project has been under development for years and is expected to deliver significant economic and lifestyle advantages to the area. It is projected to create 5,000 jobs upon full completion in 2039.

Developed by Mark IV Capital, The District will encompass 65.5 acres of retail, multifamily residential, office, and green space. Originally proposed to the City Council in 2017, the project has grown considerably in scope due to shifting market conditions and community input. Initially planned as a 1-million-square-foot complex, it has expanded to a minimum of 3 million square feet and is projected to attract over $500 million in private capital. It will be finished by 2039.

At the ground-breaking ceremony, the developers explained the growing demand for pedestrian-friendly, mixed-use developments with high-end office space, retail shops, and restaurants. The development will begin with infrastructure development and then proceed to office and residential construction. Mayor Craig Morgan quoted Mark IV Capital’s success in Round Rock and its previous developments such as Summit at La Frontera (2013) and Summit 2 (2019).

“This project is going to be a game changer for our community, bringing exciting spaces that enhance our quality of life and generate economic growth for Round Rock,” Morgan said.

Amendment of the Planned Unit Development

In order to allow for these alterations, the Round Rock City Council voted to sanction an amendment of the Planned Unit Development on February 13. The amendment reorganized the private roadway system, enhanced pedestrian safety design elements, and created new regulations for multifamily residential structures. The new roadway plan prioritizes walkability through sidewalks, landscaping, and traffic-calming mechanisms and also has space for patio seating and public events.

Economic development agreement with M4 Greenlawn LLC for the project

M4 Greenlawn LLC and the City Council set The District’s foundation in 2019 when they signed off on an economic development agreement. The city committed $12.56 million to infrastructure improvements (roads, sidewalks, and utilities), and the developer committed to delivering at least 1 million square feet of office, retail, and residential space.

After that, the strategy developed over time to be subject to further amendment in 2022 in order to accommodate changing market forces. On February 22, 2024, the City Council approved a new, amended agreement calling for developers to build out The District with at least 3 million square feet by 2039. The new terms also requested the city to repay $25 million of infrastructure costs from sales tax proceeds allocated to transportation and development projects.

To guarantee progression, the collaboration set significant performance milestones: they will complete 200,000 square feet by 2028, then 1 million square feet by 2029, and lastly complete the entire 3 million square feet by 2039. In addition, they will set aside 600,000 square feet exclusively for commercial and retail purposes. In addition, the economic value of the construction will bring in an estimated $40 million in city revenue over a period of twenty years.

As construction begins, The District will be a major economic and social hub, reshaping Round Rock’s landscape for decades to come

The District: Project Factsheet

Breaking Ground: March 6, 2025

Location: South of SH-45, northwest of Greenlawn Blvd, Round Rock

Developer: Mark IV Capital

Project Scope:

65.5-acre mixed-use development

Expanded from 1 million to 3+ million square feet

$500+ million in private investment

Completion target: 2039

Key Features:

Retail, multifamily housing, office spaces

Enhanced pedestrian-friendly design

Walkable streets with outdoor dining areas

Public gathering spaces

Timeline & Milestones

Project introduced: 2017

Initial agreement: 2019

Latest amendment: February 2024

Construction phases: 200,000 sq ft by 2028, 1M sq ft by 2029, 3M sq ft by 2039

Public Investment:

$25M city infrastructure reimbursement

Funded through designated sales tax revenues

Projected $40M city revenue over 20 years