Where is South Central Austin? South Central Austin lies between Lady Bird Lake, once referred to as Town Lake, and Hwy 71/290(Ben White), just East of Loop 1 and West of IH-35. Not only is South Central Austin a convenient location but it has a lot of character and I grew up in this area. You have an array of shops and restaurants in walking or biking distance. Many events take place in South Central Austin including The Austin City Limits Festival, The Tree Lighting and Trail of Lights at Zilker Park.