McKinney’s much‑anticipated Sunset Amphitheater is roughly 70% finished and on track for a temporary certificate of occupancy by April 1, city officials said. The venue, designed to seat up to 20,000, will host up to 100 shows a year, far exceeding the original 60‑show projection.
City‑government action
At an Oct. 5 joint meeting of the McKinney City Council, the McKinney Economic Development Corp. (MEDC) and the McKinney Community Development Corp. (MCDC), officials voted to adopt an amended and restated Chapter 380 agreement with developer Venu. The updated agreement consolidates four earlier amendments into a single contract and adds a provision for a sale‑leaseback transaction with Store Capital.
The sale‑leaseback is described by Venu’s vice president of construction and market expansion, Bob Mudd, as a “mid‑term financing mechanism.” Under the deal, the land will be sold to Store Capital, providing funds to finish construction. Venu expects to repurchase the property in June or July after the venue opens.
Investment growth and design upgrades
Venu’s investment in the project has risen from the original $220 million to $334 million, reflecting added features such as a full climate‑control system that will allow operation from October through April, and immersive technology comparable to the Las Vegas Sphere.
Flexible seating configurations now allow the amphitheater to accommodate 5,000, 8,000, 12,000 or 20,000 patrons. Premium seating has been moved into the central bowl, increasing overall capacity utilization.
Economic impact
Venu estimates the venue’s annual revenue will climb from $98 million to about $164 million, a 67% increase driven by the higher number of shows. The project is expected to generate significant local jobs and boost tourism along the US‑75 corridor.
With construction nearing completion and financing secured, McKinney residents can look forward to a world‑class outdoor entertainment destination that supports the city’s growth and cultural vitality.
Original reporting: Community Impact — McKinney — read the source article.
