Plans for Indoor Entertainment Venue along East Riverside Emerge

Mid-size, state-of-the-art facility to join Austin's live music scene

AUSTIN, Texas, Sept. 5, 2024 /PRNewswire/ -- A state-of-the-art, mid-size, indoor entertainment venue is being planned for a mixed-use project on East Riverside Drive.

The venue will feature approximately 65,000 square feet and offer an ideal spot for a diverse range of live shows, community events, and special events. It will be located at the Northwest corner of East Riverside Drive and Crossing Place, serving as an anchor to the first phase of River Park, a mixed-use project being master developed in a joint venture between Partners Group, acting on behalf of its clients, and Austin-based Presidium.

"Live music is in Austin's DNA and we're excited to bring this opportunity forward together with several partners," said Michael Piano, vice president of development for Presidium.

The indoor entertainment facility will be nestled into the first phase of River Park, surrounded by residential buildings, ground floor retail, streetscapes, and a public park.

"This new venue embodies our transformational approach to real estate investing. We're creating a unique space for Austin that will offer long term value for the community," said Matt Bosquez, Member of Management, Real Estate Americas, at Partners Group, which is one of the largest firms in the global private markets industry.

Piano added: "We have carefully vetted the path forward and are committed to the vision of creating a thriving mixed-use ecosystem. This will start the project off with a series of dynamic gathering spaces for all to enjoy."

To bring the venue to life, Presidium has entered into an agreement with a third-party developer and operator, ensuring high building standards and an exceptional entertainment experience. While the partners cannot be disclosed at this time, the vision is to host local and national performances, community programs, and special events that enhance the cultural offerings and community connections in the East Riverside neighborhood. Piano adds that there is pent-up market demand in Austin for a mid-size, indoor venue, which meets the needs of rising stars and bridges an existing market gap between smaller, local venues and larger arenas.

The overall vision for River Park calls for a mix of office, retail, entertainment, public parks, trails, and residential, including Affordable Housing. Located just east of Oracle's Austin headquarters, the 109 acres are bordered by Roy G. Guerrero Colorado River Metro Park, East Riverside Drive, Pleasant Valley Road and Country Club Creek. More than 30 acres of publicly accessible open space, parkland and urban trails leading into Guerrero Park are anticipated. The site will also integrate with Capital Metro's existing and planned multi-modal transportation network. 

A timeline for the music venue has yet to be determined, while build out for the entire River Park development is anticipated to take 10 to 20 years.

About Partners Group
Partners Group is one of the largest firms in the global private markets industry, with around 1,800 professionals and approximately USD $150 billion in assets under management. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and its primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to build businesses and assets into market leaders. For more information, please visit www.partnersgroup.com or follow us on LinkedIn.

About Presidium
Founded in 2003, Presidium is a Texas-based real estate developer, owner, and operator with a 20-year operating history and an existing real estate portfolio totaling approximately $2 billion assets under management (AUM). We represent a spectrum of disciplines, including acquisitions, development, property management, asset management, construction, law, finance, accounting, special servicing, and public-private partnerships.  At Presidium, our mission is to craft vibrant and unique communities, deliver exceptional returns for our partners, and nurture a collaborative, supportive atmosphere for our employees. Together, we strive to make a meaningful impact on the lives we touch and the neighborhoods we enrich. For more information about Presidium, visit www.presidiumre.com.

SOURCE Presidium