AEG Presents Teams Up with Corporex Companies For New $40 Million Venue in Kentucky
AEG Presents/Promo West has announced an agreement with Corporex Companies for Corporex to construct a world class music venue on a riverfront site in Newport, Ky.
AEG Presents/Promo West has announced an agreement with Corporex Companies for Corporex to construct a world class music venue on a riverfront site in Newport, Ky. The venue will be part of the first phase of the Ovation development, a 25-acre mixed use development located on the Ohio River across from downtown Cincinnati. Preparations are being made at the location with full construction to begin once final building permits are secured.
“The Newport location provides AEG/PromoWest the perfect opportunity to expand our Midwest presence to the Cincinnati marketplace,” said CEO of Promowest Scott Stienecker in a release. “We intend to bring many of the same groups that play at our EXPRESS LIVE! in Columbus, Ohio, and STAGE AE in Pittsburg, Penn. to Greater Cincinnati.”
The venue design will accommodate indoor audiences of up to 2,700 and an outdoor capacity for the summer shows of up to 7,000 concert goers and expects to host 180 shows per year.
“We began working with Scott Stienecker, CEO of PromoWest, more than a year ago, with a goal of securing an entertainment venue that would be a centerpiece to the Ovation development,” said managing director of Corporex Companies, LLC Tom Banta in a release. “During the course of our negotiations, PromoWest was acquired by AEG Presents, one of the largest live music companies in the world. We are delighted to now be working with two, best in class, live music promoters attracting both regional and national talent.”
The concert hall, with its unique sweeping roof design, will sit atop a 550-car structured parking garage. The Venue Plaza will be linked to the future phases of the Ovation development via a pedestrian walkway over the recently opened Route 9 extension. The pedestrian bridge will be linked to the restaurants, night life and other entertainment spots that will make up the main pedestrian streets dubbed Broadway and Main Streets within the mixed-use Ovation development.
The facility is expected to attract over 350,000 to 400,000 fans annually.
“The venue design and capabilities fill a void in the market and are a natural fit with our venues in Columbus and Pittsburgh as well as other properties we own or operate in Cleveland and Detroit,” said COO of AEG Presents Shawn Trell in a release. “We look forward to working with the Corporex team to make this venue a reality. I know it will be one that artists and music fans will enjoy tremendously, and that the region will be proud to call its own.”