Austin’s bad penny of a dive bar and music venue, Hole in the Wall, is changing hands.

The historic venue that’s hosted everyone from Townes Van Zandt to Blaze Foley to Shakey Graves to Spoon has struggled to stay afloat over the last decade, but its new owners said they hope to keep the Austin fixture alive and well for another 50 years.

Mike Lavigne is partnering with local promoter, manager and Hotel Vegas alum Courtney Goforth to take over the iconic bar. Lavigne told KUT News they plan on making some minor improvements to the space, but they hope to bring more of what a half-century of bar-goers have come to expect from Hole in the Wall.

“For this place to still be standing after all this time is a testament to how much people love it,” he said. “We feel a great responsibility there, and it’s not something we take lightly. It’s a true honor to be a part of something that makes this city so freaking awesome.”

Lavigne said Hole in the Wall’s current owner, Will Tanner, is retiring after owning the mainstay since 2008 but will continue on as a partner and help with the “peaceful transition of power.”

A man and a woman pose for a photo in a bar.

Mike Lavigne and Courtney Goforth are the new co-owners of Hole in the Wall.

Goforth said that transition was on display last week, when she helped bar-back during a SXSW show, along with two of the previous general managers and Tanner.

“It feels really good to know that everyone is still just vibing with each other,” she said. “It’s like it doesn’t matter what iteration they came from. Everyone still wants to come to a hole in the wall and hang out, you know?”

The bar has been a fixture on The Drag since 1974 and has taken some hits over the last few years, weathering a couple of potential closures. The venue nearly closed in 2015 when the landlord raised the rent. Tanner narrowly avoided another closure in 2023 but was able to secure a 20-year lease and a $1.6-million grant from the city to keep the iconic venue open.

Lavigne and Goforth said they want to take a maximalist approach to keep the venue thriving, bringing in more touring acts and having bigger shows on its front and middle stages.

“More punk rock. More drag. More comedy. More shaking your ass. More opportunities to gather and be social and have fun,” Lavigne said. “We’re going to bring more people, more opportunities to have more fun.”

On the music side, Goforth said she hopes to lean on her years of experience in talent-booking to maintain a culture that uplifts local bands while highlighting up-and-coming talent.

Lavigne said one notable change will be adding a new, more permanent, on-site restaurant after a revolving door of kitchens over the past few years.

He’s planning a new restaurant offering breakfast, lunch and dinner, as well as late-night options, and said it would be operated by “one of our city’s finest chefs.” An announcement on that will be coming soon, Lavigne said.

Ultimately, Goforth and Lavigne said they hope the improvements and expanded programming will bring people back to the bar and attract new regulars to the bar.

“We’re done saving the Hole in the Wall,” Lavigne said. “This is a new era. The Hole is going to thrive now.”