CHICAGO (CelebrityAccess) – A small group of independent music venues in Chicago has formed a collation to protest a proposed $6 billion mixed-use development that would include a number of new venues run by Live Nation.
Yesterday, venues such as Empty Bottle, Metro, Thalia Hall, Subterranean, Schubas, Lincoln Hall, The Hideout and others, took to Twitter to call out Live Nation and real estate developer Sterling Bay, arguing that the development, dubbed Lincoln Yards, will put the livelihood of countless local independent businesses in jeopardy.
While Live Nation is no stranger to the Chicago music market––the promoter currently manages the city’s largest music festival, Lollapalooza, and operates Chicago’s House of Blues––one local venue called the plan “vertical integration” and “a monopolistic move.”
Sterling Bay has also requested that the city of Chicago designate the proposed development site as a TIF district. Under Indiana law, a portion of property tax revenue generated by a TIF designated district can be redirected to subsidize private development.
As an act of solidarity, the coalition of venues has invited the public to attend a rally taking place today (Nov. 29) at 5:30 p.m. at Park Community Church ahead of a scheduled community meeting during which Sterling Bay is expected to reveal its revised plans for the development.