Rally Austin recently made a significant move by providing a $2.2 million loan to Empire Control Room & Garage operators Heard Entertainment. This loan will enable the company to purchase and expand the property, ensuring that the East Seventh Street club remains a live music venue for the next 20 years. Rally Austin, previously known as the Austin Economic Development Corporation, is a real estate nonprofit established by the city in 2020 to preserve and create cultural spaces.
The Iconic Venue Fund, managed by Rally Austin, played a crucial role in providing the loan to Empire Control Room & Garage. This fund is part of a cultural trust dedicated to supporting local music and arts. The loan comes with a 10-year repayment period, with the funds being reinvested back into the Iconic Venue Fund. Heard Entertainment Managing Partner Stephen Sternschein, who already owned the Control Room, used the loan to acquire the Garage as well, allowing him to consolidate the two venues into one property.
While specific details about the expansion and increased capacity of Empire were not disclosed, Sternschein emphasized that the consumer experience will be enhanced with improved infrastructure and larger stages. Despite the challenges of obtaining permits and potential construction delays, Sternschein is committed to maintaining Empire as a vibrant music venue on Seventh and Red River for years to come. Rally Austin’s involvement also includes a right to first refusal clause, protecting the property’s live music status in the future.
In 2022, Heard Entertainment partnered with live music bookers Resound Presents to manage venue operations for Empire and Parish. However, the partnership has since dissolved, with each entity focusing on different aspects of the business. While details about the split were not provided, the commitment to providing quality live music experiences remains a top priority for all involved parties.
Overall, the support and investment from Rally Austin have paved the way for exciting developments at Empire Control Room & Garage, ensuring that the venue continues to be a cornerstone of Austin’s live music scene for years to come. As the city’s independent news source for over 40 years, The Austin Chronicle encourages readers to consider supporting independent journalism by making a donation to help sustain free press in the community. Your contribution, no matter the amount, can make a difference in preserving the integrity and diversity of news coverage in Austin.