Sports and live entertainment company AEG and Southwest Value Partners (SWVP) have entered into an agreement that will allow AEG to purchase a four-acre parcel of land to develop a new mixed-use entertainment district at SWVP’s Nashville Yards in downtown Nashville, TN.
AEG’s planned mixed-use entertainment district will be anchored by a 4,000-capacity music venue, a flagship Regal Cinemas luxury theatre complex, a 600-700 capacity live entertainment club, an approximately 240-room boutique hotel, and a variety of other entertainment and food and beverage offerings.
The agreement further expands AEG’s portfolio of mixed-use entertainment districts which includes destinations such as L.A. LIVE, The O2 (London, England) and Mercedes-Benz Platz (currently under construction in Berlin, Germany).
AEG will work closely with SWVP to integrate all aspects of the new entertainment district development at the center of the Nashville Yards’ site into the infrastructure, architecture and pedestrian connectivity of SWVP’s already announced project, resulting in a mixed-use community that will feature a 15-acre modern urban retail, hospitality, creative Class A office, residential and entertainment offering in the heart of Nashville.
SWVP and AEG will continue to work closely with Nashville’s city leaders to ensure that all offerings at Nashville Yards will meet the city’s development objectives while honoring Nashville’s history and heritage in its use of materials, scale and eclectic charm.
“For several years, AEG has been looking for the right venue development opportunity in Nashville, one of the fastest growing cities in the country,” said Jay Marciano, chief operating officer, AEG and chairman and CEO, AEG Presents. “A development offering like this has to not just be special, but be remarkable. AEG is very pleased to be partnering with Southwest Value Partners and the City of Nashville in this exciting entertainment venture.”
SWVP’s Nashville Yards is a multi-phase office, retail, hospitality, entertainment and residential project that will span the western edge of downtown and stretch from Broadway north past Church Street.
The first site within Nashville Yards will open in 2020 with a 591-room premium, full-service Hyatt Regency hotel featuring more than 65,000 square feet of group meeting space. The Hyatt Regency will anchor the northwest corner of Broadway and 10th Avenue.
The AEG-developed entertainment district will initially break-ground on four acres to be located at 10th Avenue between Commerce Street and Church Street. The SWVP and AEG agreement also provides an option for AEG to acquire an additional, adjacent 1.5-acre parcel for further mixed-used development, including creative office, residential, hotel and retail.