UT Austin, Partners Break Ground on Moody Center
- Dec 11, 2019
The University of Texas at Austin, Oak View Group and Live Nation Entertainment have broken ground on the Moody Center, a multi-purpose, privately financed sports and entertainment arena in Austin, Texas. The venue is anticipated to open in 2022.
The 15,000-seat venue, named for the Moody Foundation, will cost an estimated $338 million and will be built on land fully owned by the university. The charitable organization provided the school with a $130 million grant to support Texas Athletics, marking the single largest gift from a foundation in the university’s history.
The development will replace the 42-year-old Frank C. Erwin Jr. Center and serve as home to the university’s Longhorns basketball team. The venue will host a wide range of other events, from concerts to graduation ceremonies and other education-related events for the Austin community. Academy Award-winning actor Matthew McConaughey has signed on as the minister of culture of the Moody Center and will be involved in many of the project’s interior design aspects.
While Austin has long been known as the Live Music Capital of the World, the sports industry has increased in importance in recent years. Earlier this year, work kicked off on a 20,500-seat soccer park and stadium at McKalla Place, shortly followed by the country’s largest baseball-scouting organization announcing relocation plans north of the metro.