The Museum traces its roots to 1943, when Clara Driscoll best known as the savior of the Alamo deeded her 1916 Lake Austin estate to the Texas Fine Arts Association (TFAA) to be used "as a Museum to bring pleasure in the appreciation of art to the people of Texas." The site overlooks
Lake Austin and is said to have been chosen by Stephen F. Austin for his home. Changing exhibits of 20th-century American art and educational programs are presented in this Italianate-style estate.