Last summer, Kane Realty Corporation announced plans to construct a new music venue as a part of its upcoming $2 billion Downtown South development. Fast forward to today, developers are in limbo due to high market rates.
During a quarterly presentation, Kane’s Chief Operating Officer Bonner Gaylord said “we’re long-term, very bullish, but in the near-term, we’re in a holding pattern,” about the budding project.
Phase zero of the project is already complete — 31,000 sqft of office space has been leased. Kane is searching for retail concepts to join, like breweries and other food + bev businesses in a 14,000-sqft space.
Phase one is the development primarily on hold; this phase will include a 180-room hotel, multi-family housing + office buildings. Plus, this development will include a music hall — think bigger than the Ritz, but smaller than Red Hat Amphitheater — to attract new acts with a rooftop space.
Learn more about the upcoming development + additional details online.