Other venues are opening as well: the 2,000-seat Griffin Music Hall, a farm-to-table restaurant and a two-acre interactive outdoor Playscape for children.
The second phase of the arts district, known as MAD, will include an art gallery and a renovated 1920s vaudeville theater.
The new arts district covers about eight city blocks and incorporates several repurposed buildings in the historic downtown, said Bob Tarren, MAD chief marketing officer.
After the downturn in the oil economy several years ago, the economy needed to be revitalized, Tarren said. The idea for the arts and entertainment hot spot grew out of that need.
"Feasibility studies determined the need for genuine, authentic and unique experiences," he said.
In an effort to "lift the fortunes of a small Southern town," acts and events will be booked year-round at the music hall and amphitheater, Tarren said.
More than a dozen have been scheduled through the end of the year, including the Beach Boys, El Dorado Film Festival and the Acrobats of China.
El Dorado is about 100 miles south Little Rock. For concert tickets or more information, visit Murphy Arts District or call (877) 940-3334.