ROUND ROCK, Texas (KXAN) –The renderings of what will be called The District, look similar to The Domain shopping area in north Austin, and it will the first of its kind in Round Rock.

The Round Rock City Council unanimously approved the beginning phases of the project at Thursday’s meeting. Real estate firm Mark IV Capital plans to invest $200 million to build 1 million square feet of commercial and residential development.

The development will be built on the 65 acres along the SH 45 frontage road, slightly west of North Greenlawn Boulevard, and just east of the Round Rock Crossing shopping center. The area sits at the edge of Round Rock, Pflugerville and North Austin.

“Our intent is to provide a mixture of high quality office, residential, hospitality, and retail uses to create a dense, mixed-use environment, a first for the City of Round Rock,” said Paul Cate, Mark IV’s Chief Executive Officer. “The District is the natural location for the region’s next major business hub. Its location at the intersection of I-35 and SH 45 easily connects to the core of Austin, while also providing phenomenal access to the fast-growing cities in north Austin.”

“Now that we saw the pictures I’m even more excited,” said Melinda Trasatti who lives off SH 45 frontage road. “I just think of the advantage of having more shops and those kind of shops, especially the way it looks.”

The development is just east of several other large shopping centers, including one north of the Round Rock Crossing shopping center, with Walmart. There is also La Frontera which is west of I-35 at SH 45. With the cluster of retail comes traffic.

“If they don’t do nothing about the traffic situation, it will be very congested,” said Benito Leal, who lives off SH 45 frontage road.

Leal says it’s already difficult to get in and out of his neighborhood during rush hour. According to the Texas Department of Transportation, about 36,000 people drove the eastbound SH 45 frontage road daily last year.

Now that the city of Round Rock has made a deal with developers, council will vote on an incentive agreement early next year. Then they’ll do a traffic study. Construction is slated to begin within the next 12 months.

Developers of The District plan Class A office space, dense residential and some retail and restaurant spaces. (Mark IV Capital Rendering)