Southwest Value Partners (SWVP) and sports and live entertainment company Anschutz Entertainment Group (AEG) have announced a joint venture (JV) for the co-development of the planned entertainment district and concert venue at Nashville Yards in the US.
SWVP is the owner and developer of the 18-acre Nashville Yards project.
The entertainment district’s concert venue component will be operated by AEG’s live-entertainment division AEG Presents, as part of a long-term lease agreement with the JV.
Together, SWVP and AEG have reimagined and expanded the original vision for the entertainment district.
It will now include a live music venue with a capacity for 4,000 people, an upscale eight-screen cinema, a curated collection of food, beverage and shopping offerings.
It will also have 275,000ft² of Class A+ creative office space and three residential towers with amenities, abundant open space and plazas.
Construction works on the entertainment district are expected to start early next year.
SWVP has also acquired the ownership stake that was earlier owned by MGM Resorts International.
AEG chief operating officer and AEG Presents chairman and CEO Jay Marciano said: “Developing flagship live music venues for entertainment districts has proven to be a successful model for AEG Presents nationwide.
“Anchoring Nashville Yards with a versatile, mid-sized music venue is going to provide the area with a vibrant centre point that reflects both the legacy and future of Music City.”
The Nashville Yards project also includes the Grand Hyatt Nashville, which has 591 rooms, the newly renovated Union Station Nashville Yards and Amazon Nashville’s two Class A+ office towers comprising over one million square feet.
Additionally, it will have a 650,000ft², multi-tenant Class A+ office tower, which will house the future headquarters of Pinnacle Financial Partners.
A 1.3-acre park, multiple green spaces and plazas and additional retail, restaurant and residential buildings are also part of the project.