NASHVILLE, TN (CelebrityAccess) — Anschutz Entertainment Group announced it has formed a joint venture with Southwest Value Partners (SVP), the owner and developer of the Nashville Yards project, to co-develop the planned entertainment district and concert venue at Nashville Yards.
Under the terms of the joint venture, Nashville Yards, when completed, will include a 4,000-capacity, state-of-the-art live music venue and an eight-screen multiplex cinema along with food, beverage and shopping; three residential towers; a luxury hotel; and a variety of greenspace and public plazas.
Construction on the entertainment district is now scheduled to begin in early 2022.
“Nashville is the perfect location to develop the next great entertainment district in one of the most important music and entertainment centers of our country,” said Ted Tanner, executive Vice President Real Estate, AEG. “Thanks to the great insights, market knowledge, and development success provided by the Southwest Value Partners team, Nashville Yards will bring together the core urban elements that make the city so unique and create a true destination where Nashvillians and visitors can live, work, and play together.”
“Our partners at AEG are leading worldwide experts on creating world-class entertainment districts, and together we have created a new, best-in-class vision for an incredible and highly enjoyable entertainment environment at Nashville Yards,” said Cary Mack, managing partner of SWVP. “Our ownership, design, and construction teams are focused and fully engaged to bring the concepts we have created to life.”
As part of the deal, AEG Presents, the live entertainment division of AEG, has signed a long-term lease agreement with the joint venture to operate the concert venue.
It was also announced that SWVP has acquired the ownership stake previously held by MGM Resorts International.