Red River's Holy Mountain and Red 7 are successful live music venues that draw big acts and regular crowds. Why, then, are the two venues in danger of closing?
The same reason that many locals complain about living in Austin: rising rent prices.
The Austin Chronicle says that Holy Mountain and Red 7 "being forced to close when their leases end October 1 remains a very real possibility," because of rent increases. Monthly rent for Holy Mountain and Red 7 is currently $5,500 and $9,000 a month, respectively. However, the rent prices for the next lease term have increased to $8,000 and $14,000 a month, figures that don't include real estate taxes, insurance and maintenance costs, reports the Chronicle.
Holy Mountain opened in the former Beauty Bar space in October 2012, and Red 7 has been a fixture of the downtown music scene for nearly a decade. They are part of the Red River Cultural District, which is also home to the Mohawk, Stubb's, Cheer Up Charlies, Beerland and Red Eyed Fly.