Round Rock's Renaissance: $500M Development & Infrastructure Boom

A Transformation Years in the Making

On March 6, 2025, Round Rock celebrated a momentous occasion: the groundbreaking of The District, a $500 million mixed-use development that represents the city's largest private investment in history. But The District is just one piece of a comprehensive infrastructure and development boom that's transforming Round Rock into one of Central Texas's most dynamic investment markets.

The District: A Game-Changing Development

First announced in 2017 and now finally underway, The District encompasses 65 acres of prime real estate with an ambitious vision:

Project Scale

• **4+ million square feet** of mixed-use space
• **1,500+ multifamily units** creating dense, walkable residential options
• **150,000 square feet** of retail and restaurant space
• **2 million square feet** of office space attracting corporate tenants
• **Full-service hotels** supporting business and tourism

Strategic Location

Positioned near major transportation corridors and existing commercial districts, The District will create a true urban center in Round Rock—offering the live-work-play environment that attracts young professionals, families, and employers alike.

Market Impact

Developments of this magnitude don't just add property—they transform markets. Comparable projects in other Texas cities (The Domain in Austin, Legacy West in Plano) demonstrated 15-30% property value appreciation in surrounding neighborhoods within five years of opening.

Infrastructure Investments Signal Long-Term Commitment

Beyond private development, Round Rock's public infrastructure investments reveal a city preparing for significant growth:

Water and Wastewater Expansion

The Brushy Creek Regional Wastewater System expansion—approved in partnership with Austin, Cedar Park, and Leander—will increase treatment capacity to 30 million gallons per day. This isn't just about handling current needs; it's infrastructure built for a population that city planners expect to double over the next 20 years.

Investment Implication: Infrastructure capacity precedes growth. Cities don't build 30 million gallon-per-day treatment facilities unless they're confident in sustained population and commercial expansion.

Convention Center & Spaceport Development Corporation

The approved convention center project and Spaceport Development Corporation represent Round Rock's ambition to compete for major events, conferences, and aerospace industry presence.

Investment Implication: Convention centers generate sustained economic activity—hotel demand, restaurant traffic, and corporate interest. The spaceport initiative positions Round Rock at the forefront of Texas's emerging aerospace economy.

Transportation Improvements

The second phase of Northeast Downtown Improvements, focusing on Sheppard Street infrastructure, continues Round Rock's commitment to creating a connected, accessible urban core.

Investment Implication: Walkability and connectivity drive premiums in property values. Neighborhoods with improved pedestrian infrastructure and reduced car dependency consistently outperform car-dependent suburbs.

Parks and Recreation

$183 million in parks projects are currently underway, dramatically expanding recreational amenities and green space—factors that increasingly drive residential location decisions.

Why Round Rock for Investment?

1. **Employment Growth**

Round Rock has successfully attracted major employers across technology, manufacturing, and healthcare sectors. The combination of The District's office space and ongoing corporate relocations to Texas positions Round Rock as a primary employment center.

Current Job Growth: Round Rock's employment has grown 4.7% year-over-year, outpacing both state and national averages.

2. **Quality of Life Indicators**

• Top-rated Round Rock ISD school district
• Low property tax rates compared to surrounding areas
• Award-winning parks and recreation programs
• Minor league baseball (Round Rock Express)
• Proximity to Austin without Austin prices

3. **Affordability Advantage**

While Austin median prices hover around $420,000, Round Rock offers comparable properties in the $300,000-$350,000 range—providing substantially better entry points for both homeowners and investors.

4. **Transportation Access**

Interstate 35 and Highway 45 provide direct access to Austin, while proximity to Austin-Bergstrom International Airport (25 minutes) supports business travel and relocation appeal.

Specific Investment Opportunities

Downtown Round Rock

Properties within a one-mile radius of The District represent the most obvious appreciation play. As the development matures over the next 3-5 years, expect:

• **Residential**: Single-family homes and townhomes within walking distance will command premiums
• **Commercial**: Retail and mixed-use properties will benefit from increased foot traffic
• **Multifamily**: Older apartment complexes may see value-add renovation opportunities as area demographics shift upscale

Emerging Neighborhoods

Several Round Rock neighborhoods show strong fundamentals with room for growth:

• **Stone Oak**: Master-planned community with new construction, excellent schools
• **Teravista**: Established community seeing renewed interest as The District develops
• **University Boulevard Corridor**: Commercial redevelopment opportunities near Texas State Round Rock Campus

Build-to-Rent and Multifamily

The District's 1,500 multifamily units will generate sustained rental demand. Nearby BTR (build-to-rent) opportunities positioned for young professionals working in The District's office spaces offer compelling cash flow potential.

The Broader Central Texas Context

Round Rock's transformation doesn't occur in isolation. It's part of Central Texas's continued evolution from Austin-centric to multi-nodal metropolitan area, with Round Rock, Cedar Park, Georgetown, and San Marcos all developing as complementary urban centers.

This distribution of development creates multiple investment opportunities beyond Austin's core—with Round Rock leading the way due to its scale of investment and strategic planning.

Investment Strategy Considerations

Timing

• **Immediate**: Pre-development property purchases near The District capture maximum appreciation potential
• **Medium-term (1-3 years)**: As The District's phases complete, rental demand and sales values will strengthen
• **Long-term (5+ years)**: Mature mixed-use districts typically see sustained value growth as community establishes

Property Types

• **Single-family residential**: Safe, appreciating assets with strong rental demand
• **Townhomes/Condos**: Higher cash flow, appealing to young professionals
• **Commercial/Mixed-use**: Higher complexity but exceptional upside for experienced investors
• **Land**: Pre-development opportunities in paths-of-growth

Risk Factors

While Round Rock's outlook is positive, investors should consider:

• Development timelines can extend beyond projections
• Economic downturns affect mixed-use developments first
• Property tax increases may accompany infrastructure improvements
• Competition from other Central Texas markets

Action Steps for Investors

1. Study The District's development timeline and plan purchases to align with major milestones

2. Research comparable mixed-use developments in Texas to understand value curves

3. Identify specific neighborhoods within 1-3 mile radius of The District

4. Analyze cash flow projections using current rents with 3-5% annual increases

5. Establish relationships with Round Rock property managers to understand rental market nuances

Final Thoughts

Round Rock stands at an inflection point. The combination of The District's transformative development, massive infrastructure investments, and continued corporate recruitment creates a compelling investment thesis rarely seen in secondary markets.

For strategic investors willing to act during development phases rather than after maturity, Round Rock offers exceptional risk-adjusted return potential. The city's leadership has demonstrated commitment to controlled, quality growth—exactly what long-term real estate investors seek.

Ready to explore Round Rock investment opportunities? I'll provide detailed neighborhood analysis, cash flow projections, and curated property options positioned for growth as The District and surrounding infrastructure develop.