AUSTIN (KXAN) — An Austin-based entertainment promotion company bought Stubb’s BBQ and will start improving the downtown restaurant and music venue.

C3 Presents and Live Nation not only bought Stubb’s, located at East 8th Street and Red River Street, but also the entire city block just west of Interstate 35. C3 said it has been in charge of booking shows at Stubb’s for the past 26 years and while they’ll make improvements to the venue, they’ll “maintain the beloved Stubb’s experience.”

“Stubb’s is truly one of the most special music venues, not only in Austin, but in the country,” said Amy Corbin, a promoter with C3. “It’s part of our DNA as Austinites, and we intend to carry on the outstanding legacy and experience fans have come to know and love over the years.”

Stubb’s hosts more than 100 shows per year and has a capacity of 2,500 people, and the improvements will “enhance the overall experience for both artists and fans.”

C3 Presents has also made investments in the Moody Amphitheater in Waterloo Park and the Moody Center, which will open April 20 with John Mayer’s first of two “Sob Rock” Tour shows.