diff --git a/Code/Sandbox/Editor/EditorViewportWidget.cpp b/Code/Sandbox/Editor/EditorViewportWidget.cpp
index 86fda8ceae..2647b4cd05 100644
--- a/Code/Sandbox/Editor/EditorViewportWidget.cpp
+++ b/Code/Sandbox/Editor/EditorViewportWidget.cpp
@@ -1218,13 +1218,18 @@ void EditorViewportWidget::SetViewportId(int id)
     CViewport::SetViewportId(id);
 
     // Now that we have an ID, we can initialize our viewport.
-    m_renderViewport = new AtomToolsFramework::RenderViewportWidget(id, this);
-    m_defaultViewportContextName = m_renderViewport->GetViewportContext()->GetName();
+    m_renderViewport = new AtomToolsFramework::RenderViewportWidget(this, false);
+    if (!m_renderViewport->InitializeViewportContext(id))
+    {
+        AZ_Warning("EditorViewportWidget", false, "Failed to initialize RenderViewportWidget's ViewportContext");
+        return;
+    }
+    auto viewportContext = m_renderViewport->GetViewportContext();
+    m_defaultViewportContextName = viewportContext->GetName();
     QBoxLayout* layout = new QBoxLayout(QBoxLayout::Direction::TopToBottom, this);
     layout->setContentsMargins(QMargins());
     layout->addWidget(m_renderViewport);
 
-    auto viewportContext = m_renderViewport->GetViewportContext();
     viewportContext->ConnectViewMatrixChangedHandler(m_cameraViewMatrixChangeHandler);
     viewportContext->ConnectProjectionMatrixChangedHandler(m_cameraProjectionMatrixChangeHandler);
 
diff --git a/Code/Sandbox/Editor/MainWindow.cpp b/Code/Sandbox/Editor/MainWindow.cpp
index 902b04f266..1925bb0861 100644
--- a/Code/Sandbox/Editor/MainWindow.cpp
+++ b/Code/Sandbox/Editor/MainWindow.cpp
@@ -1234,7 +1234,6 @@ void MainWindow::InitActions()
     // View actions
     am->AddAction(ID_VIEW_OPENVIEWPANE, tr("Open View Pane"));
     am->AddAction(ID_VIEW_CONSOLEWINDOW, tr(LyViewPane::ConsoleMenuName))
-        .SetShortcut(tr("^"))
         .SetReserved()
         .SetStatusTip(tr("Show or hide the console window"))
         .SetCheckable(true)
diff --git a/Gems/Atom/Tools/AtomToolsFramework/Code/Include/AtomToolsFramework/Viewport/RenderViewportWidget.h b/Gems/Atom/Tools/AtomToolsFramework/Code/Include/AtomToolsFramework/Viewport/RenderViewportWidget.h
index 93f94475e4..dd71bbc431 100644
--- a/Gems/Atom/Tools/AtomToolsFramework/Code/Include/AtomToolsFramework/Viewport/RenderViewportWidget.h
+++ b/Gems/Atom/Tools/AtomToolsFramework/Code/Include/AtomToolsFramework/Viewport/RenderViewportWidget.h
@@ -43,9 +43,16 @@ namespace AtomToolsFramework
         //! Creates a RenderViewportWidget.
         //! Requires the Atom RPI to be initialized in order
         //! to internally construct an RPI::ViewportContext.
-        explicit RenderViewportWidget(AzFramework::ViewportId id = AzFramework::InvalidViewportId, QWidget* parent = nullptr);
+        //! If initializeViewportContext is set to false, nothing will be displayed on-screen until InitiliazeViewportContext is called.
+        explicit RenderViewportWidget(QWidget* parent = nullptr, bool shouldInitializeViewportContext = true);
         ~RenderViewportWidget();
 
+        //! Initializes the underlying ViewportContext, if it hasn't already been.
+        //! If id is specified, the target ViewportContext will be overridden.
+        //! NOTE: ViewportContext IDs must be unique.
+        //! Returns true if the ViewportContext is available
+        //! (i.e. GetViewportContext will return a valid pointer).
+        bool InitializeViewportContext(AzFramework::ViewportId id = AzFramework::InvalidViewportId);
         //! Gets the name associated with this viewport's ViewportContext.
         //! This context name can be used to adjust the current Camera
         //! independently of the underlying viewport.
diff --git a/Gems/Atom/Tools/AtomToolsFramework/Code/Source/Viewport/RenderViewportWidget.cpp b/Gems/Atom/Tools/AtomToolsFramework/Code/Source/Viewport/RenderViewportWidget.cpp
index bf46ece27b..0f1e5718db 100644
--- a/Gems/Atom/Tools/AtomToolsFramework/Code/Source/Viewport/RenderViewportWidget.cpp
+++ b/Gems/Atom/Tools/AtomToolsFramework/Code/Source/Viewport/RenderViewportWidget.cpp
@@ -31,12 +31,35 @@
 
 namespace AtomToolsFramework
 {
-    RenderViewportWidget::RenderViewportWidget(AzFramework::ViewportId id, QWidget* parent)
+    RenderViewportWidget::RenderViewportWidget(QWidget* parent, bool shouldInitializeViewportContext)
         : QWidget(parent)
         , AzFramework::InputChannelEventListener(AzFramework::InputChannelEventListener::GetPriorityDefault())
     {
+        if (shouldInitializeViewportContext)
+        {
+            InitializeViewportContext();
+        }
+
+        setUpdatesEnabled(false);
+        setFocusPolicy(Qt::FocusPolicy::WheelFocus);
+        setMouseTracking(true);
+    }
+
+    bool RenderViewportWidget::InitializeViewportContext(AzFramework::ViewportId id)
+    {
+        if (m_viewportContext != nullptr)
+        {
+            AZ_Assert(id == AzFramework::InvalidViewportId || m_viewportContext->GetId() == id, "Attempted to reinitialize RenderViewportWidget with a different ID");
+            return true;
+        }
+
         auto viewportContextManager = AZ::Interface<AZ::RPI::ViewportContextRequestsInterface>::Get();
-        AZ_Assert(viewportContextManager, "Attempted to construct RenderViewportWidget without ViewportContextManager");
+        AZ_Assert(viewportContextManager, "Attempted to initialize RenderViewportWidget without ViewportContextManager");
+
+        if (viewportContextManager == nullptr)
+        {
+            return false;
+        }
 
         // Before we do anything else, we must create a ViewportContext which will give us a ViewportId if we didn't manually specify one.
         AZ::RPI::ViewportContextRequestsInterface::CreationParameters params;
@@ -46,6 +69,11 @@ namespace AtomToolsFramework
         AzFramework::WindowRequestBus::Handler::BusConnect(params.windowHandle);
         m_viewportContext = viewportContextManager->CreateViewportContext(AZ::Name(), params);
 
+        if (m_viewportContext == nullptr)
+        {
+            return false;
+        }
+
         SetControllerList(AZStd::make_shared<AzFramework::ViewportControllerList>());
 
         AZ::Name cameraName = AZ::Name(AZStd::string::format("Viewport %i Default Camera", m_viewportContext->GetId()));
@@ -58,9 +86,7 @@ namespace AtomToolsFramework
         AZ::TickBus::Handler::BusConnect();
         AzFramework::WindowRequestBus::Handler::BusConnect(params.windowHandle);
 
-        setUpdatesEnabled(false);
-        setFocusPolicy(Qt::FocusPolicy::WheelFocus);
-        setMouseTracking(true);
+        return true;
     }
 
     RenderViewportWidget::~RenderViewportWidget()
diff --git a/Gems/Atom/Tools/MaterialEditor/Code/Source/Viewport/MaterialViewportWidget.cpp b/Gems/Atom/Tools/MaterialEditor/Code/Source/Viewport/MaterialViewportWidget.cpp
index 085d38b064..26279e531b 100644
--- a/Gems/Atom/Tools/MaterialEditor/Code/Source/Viewport/MaterialViewportWidget.cpp
+++ b/Gems/Atom/Tools/MaterialEditor/Code/Source/Viewport/MaterialViewportWidget.cpp
@@ -38,7 +38,7 @@ namespace MaterialEditor
 {
 
     MaterialViewportWidget::MaterialViewportWidget(QWidget* parent)
-        : AtomToolsFramework::RenderViewportWidget(AzFramework::InvalidViewportId, parent)
+        : AtomToolsFramework::RenderViewportWidget(parent)
         , m_ui(new Ui::MaterialViewportWidget)
     {
         m_ui->setupUi(this);
diff --git a/Gems/LyShine/Code/Editor/ViewportWidget.cpp b/Gems/LyShine/Code/Editor/ViewportWidget.cpp
index 2b1ea16c97..9956a39647 100644
--- a/Gems/LyShine/Code/Editor/ViewportWidget.cpp
+++ b/Gems/LyShine/Code/Editor/ViewportWidget.cpp
@@ -204,7 +204,7 @@ namespace
 } // anonymous namespace.
 
 ViewportWidget::ViewportWidget(EditorWindow* parent)
-    : AtomToolsFramework::RenderViewportWidget(AzFramework::InvalidViewportId, parent)
+    : AtomToolsFramework::RenderViewportWidget(parent)
     , m_editorWindow(parent)
     , m_viewportInteraction(new ViewportInteraction(m_editorWindow))
     , m_viewportAnchor(new ViewportAnchor())