A massive development worth more than $1 billion is making progress on its new luxury shopping and dining area off of Interstate 35 in Central Texas. Commercial real estate firm Mark IV Capital has broken ground on the retail portion of The District in Round Rock, a 65-acre project north of Austin.
Modeled after the Domain in Austin, The District promises more than 3 million square feet of Class-A office space, more than 1,500 upscale residences, 300-plus boutique hotel rooms, and 150,000-plus square feet of retail and dining. The project sits on land previously owned by Dell, and is adjacent to the tech company’s headquarters at the intersection of SH-45 and I-35, two of Austin’s most heavily traveled corridors.
Construction on part of The District’s luxury housing began last year after receiving an $86 million boost and is now moving forward with its next stage as a walkable retail hub, designed to meet the growing North Austin region. Nine to 14 food concepts and lifestyle brands will occupy a 41,525-square-foot block at the District, according to a release.
“Quality retail space remains in short supply across metro Austin and Round Rock at a time when the region’s customer base continues to grow in size and spending power,” said Aaron Stephenson, Founder and Principal Consultant of Retail Street Advisors in a release. “The distinctive design, strong demand, and mixed-use environment at The District create a compelling opportunity for restaurant operators.”
There will be six unique buildings integrated along a Hill Country greenbelt-inspired walkway in the heart of The District. Two of the six retail buildings will be for single-tenant restaurants, while the remaining four can accommodate up to 14 restaurants depending on its size…