NASHVILLE, TN (WSMV) – The developer of Nashville Yards and Anschutz Entertainment Group (AEG) have announced a joint venture to co-develop the planned entertainment district and concert hall at Nashville Yards.
AEG Presents, the live entertainment division of AEG, has entered into a long-term lease agreement with the joint venture to operate the concert hall component of the entertainment district.
Southwest Value Partners, the developer of Nashville Yards, and AEG together redesigned and expanded the original vision for the entertainment district to include a state-of-the-art, 4,000-capacity concert hall; a high-end cinema with eight screens; an organized collection of food, drink and shopping offerings; 275,000 square feet of creative class A + office space; and three highly developed residential towers. Construction of the entertainment district is expected to begin in early 2022.
It was also announced that SWVP has acquired the stake previously held by MGM Resorts International.
“Nashville is the perfect location to develop the next great entertainment district in one of our nation’s most important music and entertainment hubs,” said Ted Tanner, executive vice president of real estate, AEG, in a press release. “With the great ideas, market insight and development success provided by the team at Southwest Value Partners, Nashville Yards will bring together the essential urban elements that make the city so unique and create a true destination for Nashvillians and visitors alike. can live, work and play. together.”
“Our partners at AEG are leading global experts in creating world-class entertainment districts, and together we have created a new, top-notch vision for an incredible and enjoyable entertainment environment at Nashville Yards,” a Cary Mack, Managing Partner of SWVP, said in a press release. “Our ownership, design and construction teams are focused and fully engaged in bringing the concepts we have created to life. “
“Developing flagship concert halls for entertainment districts has proven to be a successful model for AEG Presents nationally,” said Jay Marciano, COO of AEG and President and CEO of AEG. ‘AEG Presents, in a press release. “Anchoring Nashville Yards with a mid-size multi-purpose concert venue will provide the region with a vibrant focal point that reflects both the heritage and the future of Music City. It’s exciting for us to have an even bigger presence in a community that contributes so much to popular culture.
In addition to the planned entertainment district, Nashville Yards includes the luxurious 591-room Grand Hyatt Nashville, the newly renovated Union Station Nashville Yards; Amazon Nashville’s two Class A + office towers comprising over one million square feet; a 650,000 square foot multi-tenant Class A + office tower, which will house the future headquarters of Pinnacle Financial Partners; a 1.3 acre park; several green spaces and squares; and additional commercial, catering and residential buildings.
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