Austin is living up to its “Live Music Capital of the World” name with a new $338 million premier concert venue — the Moody Center — being built right now.

The 15,000+ seat center — located on UT Austin’s campus at 2001 Robert Dedman Dr. — will span 530,000 sqft and replace the 42-year old Frank Erwin Center. It will feature more than 150 nights of entertainment each year.

In addition to major concerts, the venue will host The University of Texas basketball games, family shows, and other sporting events.

Longhorn pride at the Exterior Plaza West Entrance at the Moody Center | Rendering via Moody Center

Unique arena technology will include an adjustable ceiling and movable seats to fit crowds of 5,000-18,000 people.

What’s being moody have to do with anything? The Moody Center received its name in honor of the $130 milion grant awarded to UT Austin from the Moody Foundation. The charitable organization funds projects + programs across the Lone Star State — including museums, libraries, and hospitals.

There’s even a famous Longhorn in the mix. Matthew McConaughey serves as the Minister of Culture for the Moody Center project. The development also includes a partnership between the Oak View Group, Live Nation/C3 Presents, and Dell Technologies, and UT Austin.

The two-night Moody Center grand opening celebration next year will kick off with performances by country music star George Strait + special guests Willie Nelson and the Randy Rogers Band on April 29 — Willie’s eighty-ninth birthday.

Interested in seeing the development’s progress? Check out the Moody Center’s construction webcam.