On April Fools’ Day, Austin received some welcome news that was certainly no joke. Toy Joy, the iconic and weird local toy store, announced that Fred Schmidt, co-founder of Wild About Music, bought the retail space and assets of the store that had recently closed. Schmidt bought the store in a public auction for $102,000.

This weekend, Toy Joy — in its new incarnation — will be back in business.

On Facebook, Toy Joy announced that it is stocking its shelves with more playful goodies in anticipation of reopening at 10 am on Saturday, April 12. (The reopening happens just in time for the Art City Austin festival taking place in the 2nd Street District.)

“We’ll be open from here on out,” new owner Schmidt tells CultureMap. “We just completed integrating our new computer systems which took a little longer, but the devil’s in the details. And we’re filling our shelves up with all sorts of new whacky things.”

Some familiar faces will be at the reopening as well. Schmidt tells CultureMap that the previous owners, Lizzy Newsome and Trevor Yopp, will officially join as management for Wild About Music’s overall operations, while continuing their work as Toy Joy’s co-managers and chief toy curators.

Newsome will take on the roll of director of social media marketing and events for Toy Joy, Wild About Music and Austin Rocks Texas. Yopp will take on the role of director of web and design for the company.

“It was very important for us and for the Toy Joy community to have them come back and work with us. They have always been delightful spirits,” says Schmidt.

Art City Austin takes place along Cesar Chavez and the 2nd Street District from Saturday, April 12 - Sunday, April 13. A downtown festival devoted to art, it will be the perfect chance to reconnect with an iconic Austin business for play time.