Located at the former open-air carpark at the junction of Grange Road and Somerset Road, the venue is a joint project between concert promoter Live Nation and mainboard-listed Lendlease Global Commercial Reit (LReit).
It is supported by the Singapore Tourism Board (STB).
LReit won the tender to redevelop the 48,200 sq ft Grange Road carpark in 2020.
It had wanted the new venue, which was to have housed an independent cinema, hawker stalls and multiple event spaces, to start operations by the second quarter of 2022.
But in 2023, it said the site would be ready only from the fourth quarter of 2024.
The Sunday Times understands that the venue is now due to open in 2026, and that plans were scuppered by Covid-19-related factors, such as a shortage of manpower and increases in construction costs, as well as changes related to constructing the venue around Somerset MRT station.
Live Nation, one of the largest live entertainment companies in the world, did not reveal the cost of the development, but in 2020, the development project was estimated to cost around $10 million.
It will be the first purpose-built venue by Live Nation in Asia.
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