Waterloo Records & Video is undergoing some changes to stay in business. After 35 years in its current location, the Austin institution is moving. It’ll go forward with two new owners.

According to a January 2 press release, the new location will be at 1105 North Lamar Blvd., less than half a mile north of the current location on the same road. The new owners are Gold Rush Vinyl founder Caren Kelleher and Austin entrepreneur and Armadillo Records CEO Trey Watson.

Almost since its inception, Waterloo Records has been owned by John Kunz, who joined founder Louis Karp the same year that the business opened. He became the sole owner five years later, in 1987. The sale of the store represents a relief for Kunz — now Chair Emeritus — in several ways. It seems that the business is saved from the precarious position it was thrust into in 2019, when the retail location it was leasing changed hands.

“My decades-long hope, dream and endeavor, has been for Waterloo Records & Video to live on forever, continuing to promote Austin’s vibrant music culture and community,” said John Kunz in the release.

He continued, “Now with this transition, all of my boxes are checked: a new larger home, just five blocks away; Caren and Trey buy in as my new, talented, local music industry partners; all of my team are retained and they will gain the opportunity for store ownership; all of the Waterloo Records hallmarks and traditions continue on, including innovation; and now as a minority partner and not sole proprietor, I get to work less, and play more. So thank you Austin!”

According to the release, it was Kunz who decided Waterloo would move to this new location, which is bigger than the current location by half. Waterloo fans can enjoy more space for events, better parking, and continued easy access to downtown, which helps fold record shopping and in-store events in with visitor's other musical endeavors around town.

Any record store in Austin is afforded some level of local mythology, especially considering that many are longtime institutions. Waterloo Records stands out because of how in touch it remains with the local scene, including a large and deep selection, knowledgable staff, and cool events like meet-and-greets with popular artists — both local and otherwise.

Kelleher and Watson also bring new expertise to the veteran business. Kelleher has led an important shift in record pressing at the helm of Gold Rush Vinyl, which was named among Fast Company's10 most innovative music companies of 2020. The factory has pressed records for both local and internationally famous artists including Fall Out Boy, Rüfüs Du Sol, Tom Yorke, RuPaul, Charley Crockett, and many more.

“John, Trey and I recognized this as a once-in-a-lifetime opportunity to guard and grow an iconic music business and to get to do so in a town we all love,” said Kelleher in the same release. “John was one of the first people to welcome me to Austin when I moved here to start Gold Rush Vinyl and his friendship has been so important over the years. It means so much to me that he and his wife Kathy Marcus trust me to be part of the next chapter of Waterloo.”

Watson has several music industry ventures under his belt. In addition to his role at Armadillo Records — which opened in 1969 and was foundational in Austin's music scene — he also acts as president of photo archive custodian Globe Entertainment & Media Corp, and music and sports documentary studio 153 Studio Group.

”Austin has a soul about it that attracted me to move here over 25 years ago and continues to draw people here today,” said Watson. “Since 1982, Waterloo Records has been a large part of the fabric of that soul as a small business and as a place where people gather as a community to celebrate music. I’m honored and grateful that John Kunz has entrusted our team with guiding Waterloo into the future. We have great things planned for all to experience.”

Although the sale of legacy Austin businesses often creates anxiety or alludes to hard times, Kunz's message seems entirely hopeful.

“Waterloo is my baby — I always wanted the store to live on and have a life beyond me, and it is happening with these new partners,” he said. “I am confident that the new energy and innovation from Caren and Trey, along with the entire Waterloo Records & Video crew, will fulfill the dreams I have always had.”