The former La Zona Rosa, once a popular downtown live music venue, has reopened as LZR, a sleek mixed-use office and event space.
The newly renovated site at 612 W. Fourth St. features more than 10,000 square feet of office and open space, including a lounge and bar with an adjacent landscaped outdoor patio.
In addition, a 6,600-square-foot warehouse-style venue seats 250 people and can hold more than 900.
The anchor office tenant is Austin software company Vast. March Capital, a San Antonio-based venture capital firm also has an office.
The property is owned by World Class Capital Group, led by local real estate investor Nate Paul. World Class Capital purchased the La Zona Rosa site in 2011 for an undisclosed price.
The Travis Central Appraisal District valued the property at $6.2 million this year.
The building was redeveloped in a joint project between Paul and John Price, CEO of Vast.
“There is no place in downtown Austin where technology, music, film and media come together like LZR,” Price said. “We are curating all kinds of events. It’s the DNA of Austin.”
LZR maintains much of its original warehouse feel, including vintage hardwood floors, exposed brick walls and sliding garage doors that back to the building’s one-time use as a tortilla factory.
Furnishings were chosen to be easily moved and reconfigured, so LZR can be used for events like concerts, conferences and private parties.
During South by Southwest 2017, the building was transformed into Apple Music’s SXSW headquarters and hosted performances including The Chainsmokers, Vince Staples and Spoon.
In addition to special events, Price is planning to launch a startup incubator focused on artificial intelligence and machine learning.
“LZR has deep roots in Austin,” Paul said in a written statement. “The building itself embodies that feeling of Austin. It’s old and historic and laid back. It’s the perfect place for showcasing what Austin is all about -- which happens to be both new and old.”
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