He even named his band, East Row Rabble, after the "community of misfits and weirdos" that have called the popular Civic venue home for more than 25 years.

On Saturday, that rabble will band together for a last-ditch music fundraiser to keep the iconic bar open after a string of financial setbacks.

Visiting the pub on Thursday, ACT Greens leader Shane Rattenbury said the loss of the Phoenix would be a "disaster" for Canberra's music scene.

"You talk to artists in this city and they say it's so hard here," Mr Rattenbury said.

"I can't claim to be a regular but certainly the Phoenix is an institution in Canberra, I've been to some great events here."

Last week, the bar announced it was in danger of bankruptcy, revealing details of a long-running stoush with its landlord.

Phoenix publican Netti Vonthethoff said that, although the original venue had been virtually unusable since it was damaged by the 2014 East Row fire, and then a storm the following year, the bar had continued to be charged thousands in rent.

For now, it is running out of its smaller, second venue next door, but, after a costly legal battle over the original site, that could also close within weeks.

"We're broke," Ms Vonthethoff. "The community built this place, they love this place, so we're not going to let it die.

"When we named the pub the Phoenix, we must have known something."

In six days, the pub has already raised more than $32,000 of their $75,000 fundraising goal via a GoFundMe campaign.

Both Mr Rattenbury and fellow Greens MLA Caroline Le Couteur have also signed their names to an open letter calling for community support to help the Phoenix "rise again".

While the dispute was a private matter, Mr Rattenbury said he was looking for opportunities to speak with the owner of the building as well as the property manager, LJ Hooker's commercial branch in Canberra.

"This is something we want them to resolve," he said.

"I'd certainly like to make them aware of [the pub's] greater significance to Canberra, and for them to be mindful of that in their negotiations."

He said more could be done to support Canberra's nightlife, including examining planning laws to keep residential dwellings - and any potential noise complaints - away from designated entertainment districts.

It is understood the ACT government is currently examining its planning rules with this in mind.

Fresh from a packed-out planning meeting at the bar, Ms Vonthethoff said the response from the Canberra community had been overwhelming.

People from all walks of life, from lawyers to graphic designers, had flooded the bar with offers to help out.

Local musicians say the response is in line with what the Phoenix means to them. For many, it was where they got their start playing original music. It has hosted more than 10,000 shows and 15,000 bands.

"It's been integral for me," Mr Drysdale said. "I've seen so many other young musicians develop their careers here.

"This is the spot."

LJ Hooker Commercial Canberra declined to comment.