4,000-seat music venue anchors development along East Riverside

New live music and events venue to be part of larger River Park mixed-use project in Austin

Published on Feb. 14, 2026

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A new 4,000-seat live music and events venue operated by AEG Presents will anchor the first phase of the River Park mixed-use development along East Riverside Drive in Austin. The venue is part of the 109-acre River Park project being developed by Presidium and Partners Group, which will also include housing, retail, and public green spaces. Nearby, other developments are also taking shape, including a retail project called the Grove Retail Center and a multi-phase mixed-use multifamily development by River City Capital Partners and the Housing Authority of the City of Austin.

Why it matters

The East Riverside corridor has seen rapid development in recent years, with the new music venue and other projects transforming the area. The River Park development in particular has drawn some community concerns about potential displacement of existing businesses and residents, highlighting the tensions between growth and preserving the character of East and Southeast Austin neighborhoods.

The details

The 65,000-square-foot music and events venue will be operated by AEG Presents and is expected to open in 2027 as part of the first phase of the River Park project. The larger River Park development will feature over 30 acres of parkland and green space, as well as housing, retail, and a hotel. Nearby, the Grove Retail Center is also under construction, and a multi-phase mixed-use multifamily project with income-restricted units is being developed by River City Capital Partners and the Housing Authority of the City of Austin.

  • The 4,000-seat music and events venue is expected to open in 2027 as part of the first phase of the River Park project.
  • Construction on Phase 1 of the mixed-use multifamily development at East Riverside and Vargas Road is expected to be completed in October 2027, with Phase 2 finishing in 2030.

The players

AEG Presents

An American entertainment company that operates the new 4,000-seat live music and events venue as part of the River Park development.

Presidium

An Austin-based real estate development company that is the lead developer of the 109-acre River Park mixed-use project.

Partners Group

A Switzerland-based global investment firm that is partnering with Presidium on the River Park development.

River City Capital Partners

A real estate development firm that is building a multi-phase mixed-use multifamily project with income-restricted units along East Riverside Drive.

Housing Authority of the City of Austin

A public housing agency that is partnering with River City Capital Partners on the mixed-use multifamily development.

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What they’re saying

“We're thrilled to bring a new venue to Austin, a city that lives and breathes live music. Our mission is to bring something new to the city that both honors the legacy of Austin and feels completely unique. Whether it's a headlining show from a national touring act or a local artist's breakthrough moment, we want this space to feel like home for musicians and fans alike.”

— Robin Phillips, Vice President of AEG Presents Southwest (statesman.com)

“River Park is a mixed-use, transit-oriented development that brings together housing, retail, public space, and live music as part of a single, integrated vision.”

— Michael Piano, Principal with Presidium (statesman.com)

“It's a multi-phase development we're proud to be building in partnership with the Housing Authority. It will bring a very high quality community at an affordable price point and meet an important need near the urban core of Austin.”

— Rich Leisy, Partner at River City Capital Partners (statesman.com)

What’s next

The Austin Transit Partnership is expected to receive final approval from the Federal Transit Administration for the Austin Light Rail project, which will include a station near the River Park development.

The takeaway

The East Riverside corridor is undergoing a major transformation, with the new 4,000-seat music venue and other mixed-use projects reshaping the area. While these developments aim to bring new amenities and housing options, there are concerns about the potential impact on existing businesses and residents, highlighting the ongoing challenges of balancing growth and community preservation in rapidly changing neighborhoods.