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Austin, TX

The Hole in the Wall signs 20-year lease with help from City

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The Hole in the Wall signs 20-year lease with help from City


The legendary music venue, The Hole in the Wall, received a $1.6 million real estate investment. The venue is a staple on the Drag that has been on Guadalupe Street for nearly 50 years.

“This is the first iconic music venue that we have reached an agreement with, and it is a combination of H.O.T. and general fund dollars we are providing in this $1.6 million investment,” said Theresa Alvarez, the CEO and President of Austin Economic Development Corporation.

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Alvarez says the venue is one of 45 applicants receiving the money from hotel occupancy tax dollars and general funds. This comes through the Austin Economic Development corporation, a nonprofit organization created by city council.

“Music, arts and culture are such an important economic driver for the Austin community, so we are trying to look at all aspects of preserving music arts and culture,” said Alvarez.

According to Alvarez, the lease for The Hole in the Wall ended in April 2023. The negotiation process started shortly after. A new 20-year lease was signed this week.

“It really is a real estate investment with a contract with rules and reporting requirements set in place and the 20-year lease is 10 years with 2 five-year extensions,” said Alvarez.

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Neighboring businesses are in support of the extended stay.

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“You know they have a sound stage, they do shows and stuff like that. If it’s a hole in the wall, and it’s a local spot, and that is what they have been doing, then why would we not [extend the lease]. Hopefully, they are here even longer, that they do well and by them doing well, the neighbor benefits too,” says Kaab Malik, who works at iVape ATX Austin.

The city has given Austin EDC the funds for the real estate investment that will be disbursed monthly, and will not have to be repaid as long as the guidelines of the contract are followed, according to Austin EDC.

“The Hole in the Wall is open 364 days a year. They have 3 to 5 bands playing on a daily basis, so it’s really the driver for the local musicians, and the bartenders and the employees. So it’s helping to keep a venue like that in place so that’s going to drive our local economy,” said Alvarez.

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It’s an advantage for the city, the venue and surrounding businesses.

“We can benefit from there crowds being out here on the strip, whenever they are here for their shows,” said Malik.



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Austin, TX

Knicks set to acquire Mikal Bridges in a trade from the Brooklyn Nets, AP sources say

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Knicks set to acquire Mikal Bridges in a trade from the Brooklyn Nets, AP sources say


NEW YORK (AP) — Mikal Bridges is being traded by the Brooklyn Nets to the New York Knicks, where he will join Jalen Brunson and his other former Villanova teammates, two people with knowledge of the details said Tuesday.

The first trade between the New York rivals since 1983 will put Bridges in the lineup alongside Brunson, Josh Hart and Donte DiVincenzo, players who helped the Wildcats win two NCAA championships and were the core of a Knicks lineup that reached the Eastern Conference semifinals last season.

The Knicks will pay big to get him, with ESPN reporting that they are sending Bojan Bogdanovic to the Nets along with four unprotected first-round picks and one protected pick. The deal was confirmed to The Associated Press under condition of anonymity because it is not yet official.

The Nets acquired Bridges from Phoenix in the deal for Kevin Durant in February 2023 and he went on to average 26.1 points the rest of that season in helping Brooklyn reach the playoffs. The swingman scored 19.6 per game in 2023-24 but the Nets slipped to 32-50 and missed the postseason.

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And while his team was struggling, he couldn’t help but notice how much fun his friends were having just a few miles away. The Knicks signed Brunson in the summer of 2022, traded for Hart in the 2022-23 season and then signed DiVincenzo last summer, and reached the second round in both seasons.

The four players helped Villanova win the 2016 NCAA title, and Brunson, Bridges and DiVincenzo were still there when the Wildcats won again in 2018.

They clearly can’t wait to get the band back together.

“This is crazy lol,” Bridges wrote on the social media platform X after the deal was reported.

Hart posted a picture of what appeared to be the four players smiling during a group video call.

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The teams hadn’t made a deal since 1983, when the Nets were still in New Jersey and sent Len Elmore to New York for a future draft pick. This one gives Brooklyn more picks to build through the draft or package in further trades.

The Knicks had picks to move and have been looking to strengthen a team that has been on the rise. They were a game away from their first appearance in the Eastern Conference finals since 2000 last season despite losing a number of key players to injuries before and during the postseason.

Their new addition, on the other hand, doesn’t get hurt.

Bridges was the runner-up for Defensive Player of the Year in 2022 and is currently the NBA’s most durable player, which should quickly make him a favorite of Knicks coach Tom Thibodeau. He has played in all 474 games in his career — and never missed a game in college, either — and led the league in minutes played in both 2021-22 and 2022-23.

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This story has been corrected to reflect that Brunson signed with the Knicks in the summer of 2022, not the Nets.

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AP NBA: https://apnews.com/hub/nba



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Austin, TX

‘It’s really helpful’: Central Texas workforce programs receive thousands in state funding

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‘It’s really helpful’: Central Texas workforce programs receive thousands in state funding


AUSTIN (KXAN) — Central Texas nonprofits just got more money to help their efforts increasing our workforce.

Twenty workforce skills training and job placement programs received more than $6.3 million in grant funding, Gov. Greg Abbott announced Monday.

The funding came via the Texas Talent Connection grant program, an initiative designed to aid “innovative education and workforce skills training programs that lead to successful job placement, increased wages, and improved job retention,” per the release.

Two of those programs are in the Austin area: American YouthWorks and Skillpoint Alliance.

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‘Reach out to rural communities’

Skillpoint Alliance received $210,000 from the grant program.

Chief Executive Officer Kevin Brackmeyer said it will help them reach out to rural communities throughout all of the areas they serve.

“We’ve seen a lot of individuals who are coming to our training come from outside of these rural communities. We felt that it was urgent that we start really reaching out to those communities and really helping them get trained.”

Kevin Brackmeyer, Skillpoint Alliance Chief Executive Officer

Brackmeyer said they are setting up pop-up trainings in those rural places. He said the grant will also help expand the times they can train.

  • Skillpoint Alliance
  • Skillpoint Alliance

“Adding more training sites at night as well as during the day with a focus on specific populations,” Brackmeyer said “One being the veterans that we love to serve.”

Skillpoint Alliance Electrical Instructor Matthew Singer is a veteran himself.

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“It’s hard to reach veterans,” Singer said. “Often, large populations are in Killeen and San Antonio. So we try to go to them and provide them an opportunity to transfer from the military into a trade.”

‘Serve more young people’

American YouthWorks is another Austin nonprofit receiving the Texas Talent Connection Grant Program.

“Typically, students are spending half their time in our academic programs, finishing their GED or high school diploma and half of their time in the pre-apprenticeship job training programs,” said YouthBuild Program Director David Clauss.

Clauss said their $350,000 will go towards YouthBuild, a program for young adults who haven’t finished high school.

“Our YouthBuild programs job training is focused around the Austin economy,” Class said. “We provide job training in healthcare, IT, manufacturing and construction in the skilled trades.”

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With this additional support, Clauss said they’re able to support over 120 to 150 young people.

The nonprofit said 80% of YouthBuild grads go on to higher education or a job in the Austin economy.

  • American YouthWorks
  • American YouthWorks

YouthBuild participant Eloy Vasquez is planning for that in his future.

“I actually want to like join trade school after this. A lot of the skills that I’ve learned here will definitely translate into what careers I’m trying to pursue.”

Eloy Vasquez, YouthBuild participant

Collectively, more than $50 million in grants have been awarded through the state’s grant program since 2015.

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Austin, TX

Global aerospace co. Acutronic names Austin its divisional HQ, plans additional investment in area

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Global aerospace co. Acutronic names Austin its divisional HQ, plans additional investment in area


A global aerospace giant that works with nearly every U.S. defense contractor has picked Central Texas for a multifaceted investment that is expected to result in more jobs, another manufacturing hub and workforce development training in the area. This article dives into what the company has planned and why it chose the Austin area for the next phase of its growth.



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