With monthly expenses up 600%, Threadgill’s likely to close location south of Lady Bird Lake
Threadgill’s World Headquarters owner Eddie Wilson plans to close the restaurant and concert venue on Riverside Drive after next year’s South by Southwest because he wasn’t able to renew his lease.
The property at 301 West Riverside Dr. is for sale, the Austin Chronicle reports; Wilson told the paper his monthly expenses for lease payments, insurance and taxes have increased 600 percent in the past five years to $38,000 per month.
This isn’t the iconic location with ties that go back to Janis Joplin — that smaller North Austin location at 6416 N. Lamar Blvd. will stay open — but it is a beloved spinoff, a haven for comfort food and live music in the shadow of downtown skyscrapers.
Wilson had hoped to remain in the location for three to four more years but says landlord Moton Crockett told him “the land’s gotten too valuable to be supported by meatloaf and chicken-fried steak,” according to the Chronicle.
Wilson said that’s the cost of doing business in a booming city and he doesn’t begrudge Crockett. Wilson hopes maybe Threadgill’s could live on if “a developer will come along who wants to build something” and needs restaurant tenants, according to the Chronicle.
The potential closure isn’t exactly a surprise: Wilson has been saying since 2015 that redevelopment interest has been intense for the land at Riverside Drive and Barton Springs Road, just east of the Long Center and a block from Lady Bird Lake.
Threadgill’s World Headquarters opened in 1996 and over the years has hosted high-profile musical acts including Willie Nelson.
Source: Austin Business Journal
Will Anderson, Digital Editor