The group helming Centennial Yards is ready to get moving on the sports and entertainment hub, with the groundbreaking of a 5,300-seat concert venue. The Atlanta Business Chronicle reports that the building’s framework and exterior could cost just over $6 million to build. It will rise four stories with tiered seating and a premium lounge. It will span almost 140,000 square feet with space for retailers on the ground floor. Live Nation Entertainment signed a lease to operate the venue.

The venue will be part of the growing sports and entertainment center in the city’s core, which includes State Farm Arena and Mercedes-Benz Stadium, which already host major concerts. 

The venue is expected to launch in 2027. The $5 billion Centennial Yards is a 50-acre urban revitalization project transforming underutilized property in the heart of downtown Atlanta with leading businesses, retail establishments, entertainment, and thousands of new apartments. CIM is the project’s master developer.