AEG Joins Southwest Values’ Nashville Yards Development
- Jun 21, 2017
AEG and Southwest Value Partners have entered into an agreement that allows 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, Tenn.
The new project will be anchored by a 4,000-capacity music venue, a 240-key boutique hotel, a flagship Regal Cinemas luxury theater and a 700-capacity live entertainment club.
“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 of AEG and chairman & CEO of AEG Presents, in prepared remarks. “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.”
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.
SWVP’s Nashville Yards is a multi-phased development that will feature 15 acres of retail, hospitality, Class A office, residential and entertainment. The project is set to begin opening in 2020, first with a 591-key Hyatt Regency hotel that includes 65,000 square feet of meeting space, a world-class spa and dining options. The hotel will be located on the corner of Broadway and 10th Avenue.
AEG’s entertainment district will break ground at 10th Avenue between Commerce Street and Church Street. The agreement also includes the option for AEG to acquire an additional 1.5-acre parcel for further mixed-use development.
“We know AEG to be the world’s leading sports and live entertainment company and are thrilled to collaborate together to bring this mixed-use entertainment district to Nashville Yards. Today’s announcement confirms our vision for Nashville Yards as well as the incredibly positive trajectory of the city,” said SWVP Managing Partners Cary Mack and Mark Schlossberg, in a joint statement.
The project will be within walking distance to attractions such as the Music City Center, Bridgestone Arena, The Johnny Cash Museum, the Country Music Hall of Fame and Museum, the Frist Center for the Visual Arts and Nashville’s Honky Tonks.
Image courtesy of Southwest Value Partners