By: Joe Warner / Community Impact Newspaper
The District, Round Rock’s first mixed-use development, will move forward after City Council action on Feb. 14.
By a 7-0 vote, the council approved a development agreement with Mark IV Capital, a California-based development firm working on the project. Mark IV also developed Summit I and Summit II in La Frontera in Round Rock.
The District, which was announced in November 2017, is set to be built on roughly 65 acres of land south of SH 45 and north of Greenlawn Boulevard. The development will include Class A office, hospitality, retail, residential and parking space.
According to the agreement, Mark IV would develop at least 1 million square feet over the next 20 years and invest a minimum of $200 million into the project.
In return, the agreement would require the city of Round Rock to invest at maximum of $12.56 million in public infrastructure such as roads and lines for water and wastewater.
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