Round Rock Edition | August 2022

DEVELOPMENT UPDATES

Projects underway in the Round Rock area

Plans for Round Rock’s The District change amid shifting market needs

BY CARSON GANONG

forward with,” Basie said. “That is a considerable change in all aspects in terms of dollars that us as a devel- oper are willing to contribute as well as the infrastructure requirements that are projected to this level of density, this level of height, as well as complexity, will require.” According to Basie, the total square footage for the develop- ment’s retail and multifamily will

likely go up as well, in many cases through increased building heights. City Manager Laurie Hadley said council will consider an updated eco- nomic development agreement for the project at an upcoming meeting. The previous agreement, approved in 2019, required that Mark IV develop at least 1 million square feet over the next 20 years and invest at least $200 million into the project.

In return, the city would invest up to $12.56 million in public infrastruc- ture such as roads and water lines. The District was previously slated for a 2021 groundbreaking, but changes in scale and ongoing con- struction diculties have repeatedly delayed the start to construction beginning late this summer. Brooke Sjoberg contributed reporting to this story.

The District, a long-awaited mixed-use development in Round Rock, may look dierent than origi- nally planned as developer Mark IV Capital adjusts course to meet new market demands. The approximately 65-acre development—originally announced in 2017—is located just o Greenlawn Boulevard, behind the Round Rock Crossing shopping center. In a presentation to Round Rock City Council on June 23, Justin Basie, senior vice president of Mark IV, outlined some potential changes to the development. Basie said the amount of oce space in the development could double or triple from the original 1 million square feet estimate as demand for oce space in the Austin-Round Rock area grows. “Our tallest oce building here [in the original project design] is now our shortest oce building for the project that we are prepared to move

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GREENLAWN BLVD.

Developers of The District, Mark IV Capital, shared an update on the development at a June 23 Round Rock City Council meeting. (Rendering courtesy Mark IV Capital)

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ROUND ROCK EDITION • AUGUST 2022