VENU Sunset Amphitheater Update 10/29/24

Venu Amphitheater in McKinney Approved for $120m Acquisition

McKinney, TX

On October 29th, The City of McKinney approved an amendment to the April development agreement with VENU (formerly Notes Live) to increase the city's investment in the acquisition from approximately $50 million to $75 million. The city has amended their $25 million allocation for the land purchase to be transacted as a personal guarantee. Other elements of the amendment expand the list of eligible operators to include ASM Global and Opry Entertainment Group as possible operators, edit the site plan's structural elements, and allow the city to use eminent domain for right-of-way or easement land.

The development of the 20,000-seat open-air amphitheater is located on 46 acres at the northeast corner of U.S. 75 and S.H. 121. This project – called the Sunset Amphitheater – represents a potential investment in the community in excess of $220 million. It is estimated to bring over 1,300 direct and indirect jobs to the community and an economic impact of roughly $3 billion to the area over the first ten years. Bringing this world-class venue to McKinney was a joint effort by the city, the McKinney Economic Development Corporation, and the McKinney Community Development Corporation.

The Sunset Amphitheater will serve as the flagship music venue for VENU and represents the largest venue among its locations. The venue will be designed to host major touring artists, focusing on creating an exceptional fan experience through upscale hospitality, crystal-clear sound quality, and spectacular outdoor views. The amphitheater will include approximately 300 luxury fire pit suites, a reserved seating area, and a landscaped grass berm, all under an iconic roof structure. Construction is projected to begin in late 2024, and VENU anticipates the project will be complete for the 2026 touring season.

 

Sunset Amphitheater McKinney

 

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