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What the Loss of Live Music Venues Means for Commercial Real Estate

Loss of Revenue for Event Spaces in Pandemic Threaten Development
Zilker Park, adjacent to downtown Austin, Texas, usually hosts the Austin City Limits music festival every year, with about 450,000 attendees in October. This year's event was virtual. (Getty Images)
Zilker Park, adjacent to downtown Austin, Texas, usually hosts the Austin City Limits music festival every year, with about 450,000 attendees in October. This year's event was virtual. (Getty Images)
CoStar News
October 19, 2020 | 11:36 P.M.

October weekends at Zilker Park in Austin, Texas, are usually crowded with colorful flags welcoming hundreds of thousands of Austin City Limits music festival attendees, taco-slinging food trucks, bright artsy vendor stands and hundreds of hipsters with fanny packs craning their iPhones over throngs of people to record live performances by mega music acts like Metallica, Radiohead and Paul McCartney.

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