Willie Nelson played the “Austin City Limits'' pilot in 1974. When the long-running public television music show unveils its new Austin studio in 2010, Nelson will be a co-owner of the place.

Nelson and nephew Freddy Fletcher will be partners in the studio and nightclub project with majority owner Austin-based Stratus Properties Incorporated.

Stratus will build the space as part of a $225 million project. The development also will include a 35-story tower with 200 luxury condos atop a 250-room W Hotel, a new home for the Austin Children's Museum, and shops and restaurants. The Austin Children's Museum plans a 30,000 square-foot state-of-the-art facility.

The $15 million, 2,000-seat venue will unofficially be called Austin City Limits Studio Theater. It'll serve as a soundstage about 40 nights a year when KLRU's “Austin City Limits'' tapes. It's transform into a musically diverse House of Blues-style club on other nights.

Groundbreaking for the mixed-use development is scheduled for next summer. It will be located on Block 21, an entire city block in the heart of the Second Street District.

“Block 21 will set a new standard for green building. Sustainable design, construction and operations will be the hallmark of our project. We will push the envelope to create a healthy environment for our residents and guests and for our community," Beau Armstrong of Stratus Properties said.

The new $90 million central library is also expected to open in the area by 2012.