Another local music venue bites the dust. Owners of Austin Music Hall have confirmed that the downtown event space will be demolished to make way for yet another new office tower.
Austin Business Journal broke the news Tuesday, and Austin Music Hall owners responded with details of the impending demolition. According to a statement, all scheduled concerts and events will continue through the end of the year.
Austin Music Hall was built in 1995 and underwent a multi-million-dollar renovation in 2007. Despite the updates, the venue struggled, and its owners filed for bankruptcy in 2012.
Austin-based Cielo Property Group bought the property in the fall of 2014. Cielo and Dallas-based TIER REIT, Inc. will head up construction of the new office tower. The 28-story glass building will feature traditional office space in addition to three larger sections with an open, loft-style layout. The ground level will be designed to accommodate retail or restaurants. Construction will begin in early 2016 and should be complete by the end of 2017.
"We've seen first-hand the extremely high demand for office space in downtown Austin and even with all the new construction there isn't much space available," said Cielo Founding Principal Bobby Dillard in the release. "This building will offer a premier location in what is quickly becoming the heart of downtown with amazing views and plenty of amenities onsite and within easy walking distance."
Although office space is top of mind, Cielo "will continue to own the Austin Music Hall brand." The company is "actively searching for a smaller, higher quality music venue to open under the name."