There's a new $200 million mixed-use development coming to Round Rock and construction is now under way, according to the Austin Business Journal. 

The District is a large scale mixed-use development featuring office, retail and residential space, according to The Austin Chamber. The developer is Mark IV Capital, a California-based real estate firm, the Austin Business Journal said. 

The development will include three million square feet of office space, 230,000 square feet of retail space, 1,600 multifamily units and a 250-room hotel, according to the Austin Business Journal. The Austin Chamber added the individual buildings range from 85,000 square feet to 500,000 square feet and up to 12 floors in the building offer "expansive views" of the city.

The 65-acre development is located close to SH-45 and I-35, according to The Austin Chamber, and is designed to be pedestrian-friendly. Plans call for plenty of open space and a future planned transit station. 

The Round Rock city council unanimously approved a memorandum of understanding with Mark IV Capital for The District, and the council approved funding of around $11 million for public infrastructure that is to be paid off with tax money it will generate, according to CBS Austin.