When people talk about Austin's live music institutions, they invariably talk about Antone's, Broken Spoke, Cactus Cafe, Hole in the Wall, and Liberty Lunch.
Most clubs have a shtick.
No renovations, just necessary repairs. The Black Cat does not accept demo tapes. To play, you audition live. The same bands play a given night of the week, every week. It's the residents' responsibility to promote their shows and draw people, not the club's.