Retail, Dining Phase Underway at The District in Round Rock

Mark IV Capital broke ground Oct. 15 on the retail and dining phase of The District, a mixed-use development at I-35 and SH 45 in Round Rock. STG Design is the architect. The 41,525-square-foot phase spans six buildings along a Hill Country greenbelt-inspired walkway and will house 9 to 14 restaurants or lifestyle businesses.

Phase I includes Origin at The District, a 7-story, 316-unit luxury apartment building with 23,042 square feet of ground-floor retail. Amenities include a third-level pool deck, heated pool with a 75-foot lap lane, cold plunge, dry sauna, clubhouse lounge, fitness center, coworking space, and sky lounge.

Mark IV secured an $86 million construction loan in February 2026, led by BDT & MSD Partners with participation from an Apollo affiliate. George Smith Partners arranged the financing. Mark IV acquired the site from Dell Technologies in 2016. Round Rock approved PUD zoning in June 2021 and amended the development agreement in February 2024.

The master plan calls for 2 million square feet of office, 150,000 square feet of retail and restaurant, 1.4 million square feet of residential, and 300,000 square feet of hotel space. Buildout is expected by 2039, with private investment exceeding $1 billion and more than 5,000 jobs at completion. Phase I is expected to finish in March 2028.