Welcome to
The Live Oak Lounge in Near Southside. It is not often you see a music hall and lounge with a mission statement, but The Live Oak is no ordinary venue. Simply stated, Live Oak's goal is to foster community and to affect community and even before they open next month they have achieved this objective. You might think it is impossible that a music bar could have that kind of impact, but that is only until you meet founder, Bill Smith. Bill is in the process of transforming the circa 1952 Lion's Club building on Lipscomb into a first-class bar, restaurant, and music venue. But his vision does not stop there. He sees this project as a catalyst for bringing people and neighborhoods together to benefit others through such functions as fundraisers, youth mentoring sessions, and rallying to causes that impact the district and city. Even before crossing the threshold of The Live Oak, it is clear that the endeavor is much more than meets the eye.
Bill Smith is a guy with a dream and now (almost) a dream come true. His vision for a place that brings people together to enjoy good food, good drinks, and good music is almost a reality. His path to this place has not been an easy one, but to listen to him talk there is little to nothing he would do differently. He is quick to acknowledge that each bump and turn has been an integral part of the journey. Bill has not left this dream to chance either; he has learned about financing, marketing and even construction as he and his wife have had a hand in every part of this project. His decision to raise capital by selling units in a LLC, his research on how to use TIF funds (
tax increment financing), and his willingness to actively participate in the construction and marketing show his commitment to the success of this endeavor. His candid transparency has also made him not only a welcome business partner, but has allowed him to captivate the support of the neighbors both business and residential. He is truly building community.
The financing part of the project had three phases. The first promotional phase was an opportunity to express his vision and pique curiosity. His business plan incorporated financial analysis and was the result of extensive research on the managing of a bar/restaurant. The final phase was a memorandum. He offered 100 units, each valued at 1% of the company. With a start up cost of $1.2 million, each share sold for around $12,140. These single units were purchased by investors and even people working on the project. In November, the price of each unit went up to ~$27,000. He has a maximum of 30 investors, so he is exempt from SEC regulations and he and his wife intend to hold 35-40% interest.
The entry/dining room of The Live Oak gives immediate tribute to the attention of detail found in the physical project. The acoustic panels or "clouds" are made from imported mahogany, many of them hand cut by Bill. These panels will not only offer an aesthetic element, they also serve as acoustic barriers. Bill told us the the dining room would be an intimate place to enjoy exceptional food and would not be directly connected to the music venue. Guests will be able to enjoy a formal dinner before a show or come for a different menu in the music hall or on the roof top. He has spared no expense on the soundboard, purchasing the same board that Bass Hall is still waiting to have installed. "We just ordered ours first," Bill smiled. The Music Hall will be an intimate experience offering fans and artists a unique venue in which to share music. As part of its mission, Live Oak will also offer music lessons and host fund raisers in the hall.
The finishing touch to this venue is the expansive roof top patio. Accessed by an outside staircase, the patio overlooks not only the Near Southside, but downtown Fort Worth. It will be lit by ambient lighting coming from the two namesake oak tress at the front of the lounge and reaching over the rooftop of the building.
Bill Smith has been dreaming about this project for many years - that is why he has such clarity. He has visited music venues and bars critiquing what works and what he would change. His hope is that if each person builds on what came before, "one day we'll get it perfect". The wonderful thing about Bill is that he did not let obstacles stop him form achieving his dream. He educated himself on the process of
raising investment capital, he has allowed his personality and transparent nature to gain the support of the neighbors and community. He found a building that had the right feel and negotiated a lease that predisposed him to success and repurposed it to meet his needs. Bill has allowed himself to be excited about the project and use that energy to work hard to make it a reality, most often seven days a week. The Live Oak Music Hall and Lounge opens next month and not only does Bill get to see his dream come true, we all get to reap the benefit and enjoy it as well.
The entry/dining room of The Live Oak gives immediate tribute to the attention of detail found in the physical project. The acoustic panels or "clouds" are made from imported mahogany, many of them hand cut by Bill. These panels will not only offer an aesthetic element, they also serve as acoustic barriers. Bill told us the the dining room would be an intimate place to enjoy exceptional food and would not be directly connected to the music venue. Guests will be able to enjoy a formal dinner before a show or come for a different menu in the music hall or on the roof top. He has spared no expense on the soundboard, purchasing the same board that Bass Hall is still waiting to have installed. "We just ordered ours first," Bill smiled. The Music Hall will be an intimate experience offering fans and artists a unique venue in which to share music. As part of its mission, Live Oak will also offer music lessons and host fund raisers in the hall.
Bill Smith has been dreaming about this project for many years - that is why he has such clarity. He has visited music venues and bars critiquing what works and what he would change. His hope is that if each person builds on what came before, "one day we'll get it perfect". The wonderful thing about Bill is that he did not let obstacles stop him form achieving his dream. He educated himself on the process of raising investment capital, he has allowed his personality and transparent nature to gain the support of the neighbors and community. He found a building that had the right feel and negotiated a lease that predisposed him to success and repurposed it to meet his needs. Bill has allowed himself to be excited about the project and use that energy to work hard to make it a reality, most often seven days a week. The Live Oak Music Hall and Lounge opens next month and not only does Bill get to see his dream come true, we all get to reap the benefit and enjoy it as well.