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Inside Austin’s $4 Billion River Park Development: A New Hub for Music, Living, and Entertainment

By Nick Hayden

A massive urban project is taking shape on Austin’s East Riverside corridor. River Park, a 109-acre mixed-use development, will introduce 10 million square feet of new apartments, office space, restaurants, shops, and public parks. With an estimated cost of $4 billion, this project is expected to unfold in phases over the next 10 to 20 years, reshaping an area once known for student housing and old-school Austin dive bars.

One of the biggest draws of River Park will be a brand-new, 4,000-capacity music venue, developed by AEG Presents, the company behind Coachella and some of the world’s most iconic concert spaces. Designed as a state-of-the-art indoor venue, it will offer top-tier sound, VIP suites, and flexible stage configurations to host concerts, private events, and community gatherings. Set to open in early 2027, this venue will add another major destination to Austin’s live music scene.
Beyond entertainment, River Park will introduce:

  • • Thousands of new residential units, making East Riverside a denser, walkable community
  • • Over 30 acres of public parkland, including a central green space and direct access to trails
  • • A transit-friendly design, integrating bike lanes, pedestrian walkways, and public transportation
  • • The 4,000-person AEG music venue, hosting live concerts and events
  • • Sustainable infrastructure, Eco-friendly design with green spaces woven throughout the development
  • • Movie theaters, art galleries, and nightlife venues integrated into the district
  • • Dozens of retail shops, including national brands and local businesses
  • • Restaurants, cafés, and bars, offering everything from casual eats to fine dining

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Looking Back: The History of East Riverside


Long before high-rises and music venues, East Riverside was shaped by the Colorado River, serving as a gathering place for Tonkawa, Lipan Apache, and Comanche tribes. These early inhabitants used the area’s natural resources for food and shelter, long before Austin was established.

In the mid-1800s, settlers turned this land into farmland and cattle ranches, relying on the river for irrigation and transport. By the 20th century, the construction of bridges and roads connected East Riverside to downtown, transforming it into an affordable working-class neighborhood.

By the 1970s and 1980s, the area became known for student housing, dive bars, and small music venues, making it a hub for young artists and musicians. Over time, redevelopment pressures and rising property values led to the demolition of older apartments and the closing of beloved music spots, making way for larger commercial developments.

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The Future: What River Park Means for Austin


With a project of this scale, construction will take years—and in the meantime, East Riverside will go through growing pains. Expect:
  • • Traffic congestion as roads are expanded and construction zones appear
  • • Detours and closures, especially near East Riverside Drive and Crossing Place
  • • New businesses opening in phases, starting with retail and residential spaces

But once completed, River Park will be an entirely new urban district, offering:
  • • Live-work convenience, where residents can walk from their apartments to workspaces, restaurants, and entertainment
  • • A music scene that never stops, with concerts, nightlife, and cultural events
  • • A more connected Austin, with green spaces and pedestrian-friendly infrastructure tying the neighborhood together

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The question remains: Will this become the future heart of Austin’s entertainment scene, or just another large-scale development? Either way, change is coming, and River Park is set to redefine what East Riverside looks like for the next generation.

For more information, visit:
River Park Website
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