As North Austin area communities keep growing, so too do the number of developments throughout the area. To accommodate the growing population, Mark IV Capital Inc. has announced plans for a mixed-use development, similar to that of The Domain. This development, named The District, is a 200 million dollar high-end residential and commercial center located at SH 45 and North Greenlawn Boulevard in the vibrant and bustling community of Round Rock. What can we expect at this new development? Here’s a look at some of the released details:
In total, the development will offer around one million-square-feet of mixed-use space on a 65-acre property. While no tenants have been announced at this date, the development company is in talks with retailers, grocers, medical professionals, hotel buildings and more to occupy shops within the space. According to the CEO of Mark IV Capital Inc., the development is focused on local retailers to occupy the majority of the office and retail space at The District – noting the popularity and importance of local business in the area.
But, that’s not it! The development is also looking to combat low housing inventory in the area by offering an estimated 900 units of residential space. These residential units are all multifamily and will range in affordability. Developers expect these housing options to be cheaper than comparable mixed-use projects around the area (i.e., The Domain).
While good news for the Round Rock economic picture, residents of Round Rock, Hutto and Pflugerville are expressing mixed reactions, from excited to worried, about the development. Concerns residents have mentioned include an increased amount of traffic and a possible spike in property taxes.
Overall, The District looks to be a great addition to the Round Rock community. We look forward to witnessing the construction and confirmed tenant announcements for the new development!
Are you or someone you know thinking about moving to Round Rock? We absolutely LOVE our community and would be honored to help you or any of your friends or family locate a home in the area! Give us a call today!