A new entertainment district planned for Nashville Yards development could begin construction early next year.
Plans for the new project include an eight-screen movie theater, 4,000-capacity music venue, and plenty of food and shopping, WKRN reports. Three residential towers and office space are also in the works for the downtown development.
The project originally partnered with MGM Resorts International, but the company pulled out of the 18-acre development. Instead, Southwest Value Partners, the group behind Nashville Yards, has partnered with Anschutz Entertainment Group (AEG), a leading entertainment and sports company, to operate the entertainment district.
"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 of real estate at AEG.
AEG reportedly bought the entertainment district part of the project for $44 million, according to Nashville Business Journal.
"Anchoring Nashville Yards with a versatile, mid-sized music venue is going to provide the area with a vibrant center point that reflects both the legacy and future of Music City," said Jay Marciano, chairman and CEO of AEG Presents.
Construction for the entertainment district is set to begin in 2022. For more information, visit the project's website here.