Concert Promoter Live Nation Commits To Lease 5,300-Seat Entertainment Venue At A $5 Billion Mega-Development Revitalizing Downtown Atlanta

Live Nation Entertainment LYV, one of the largest concert promoters in the country, is investing in a $5 billion mega-development in Downtown Atlanta by leasing a 5,300-seat venue, in which it plans to host concerts, The Wall Street Journal reports. 

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A Home For Professional Basketball, Football, And Soccer

The concert venue is located at Centennial Yards, a massive mixed-use real estate project currently under construction. It is located next to State Farm Arena, home to the NBA's Hawks, and Mercedes-Benz Stadium, where the NFL's Falcons and the MLS's Atlanta United FC play.

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The sprawling real estate development, spread over 50 acres on underused rail yards and parking lots, plans to completely revitalize the downtown area, creating new housing, hotels, and retail. Once operational, it will upend decades of decline in Downtown Atlanta’s residential and commercial real estate. So far, completed projects include 162 apartments, a brewery, and a revamped pedestrian walkway, the Journal reports. 

Family Affair

Developer Richard Ressler‘s CIM Group has teamed up with Hawks owner Tony Ressler, his  brother. 

“The fact that Live Nation chose to be in Downtown Atlanta is a big deal,” said Shaul Kuba, CIM’s co-founder and principal, told the Journal. “We’re creating a whole new market in Atlanta that really did not exist before.” The Journal reports that Live Nation aims to add an additional 20 venues to its global concert portfolio throughout 2026. 

“Over the last several years, we’ve been really focused on investing in projects to build to meet global demand," Jordan Zachary, Live Nation’s president of global venues, told the Journal.

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A Lack Of Infrastructure

One of the biggest hurdles for the development was the complete lack of infrastructure at the site, which meant the permitting process was long and arduous, taking two and a half years, the Journal reports.

“This site was rail yards. There was no infrastructure, water, sewer, power, roads,” said Brian McGowan, who heads a CIM subsidiary dedicated to the project. The developers have ambitious plans. The Journal reports that they hope to complete a 304-unit apartment complex, two hotels, 95,000 square feet of retail space, five restaurants, and an 80,000 square-foot sports bar and an immersive movie theater for 1,500 people by the start of next summer’s FIFA World Cup which will be held in the U.S,, Canada and Mexico, and will see the Mercedes-Benz Stadium host eight matches.

Industrial Lofts Spaces

By the time the tournament kicks off, Atlanta’s South Downtown area will be transformed into a “town square," city guide site Discover Atlanta states, offering an intimate place to gather despite the banks of new offices and apartments around it. 

Not all of Centennial Yards will consist of new construction. The 162 loft apartments, which are now complete, comprise refurbished railroad buildings dating from the early 1900s.

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