The Tampa Bay area’s live music scene will soon get a much needed mid-size venue that can host 3,500 fans. This afternoon, Strategic Property Partners (SPP), primary owners of Water Street Tampa announced plans to build a massive complex across the street from the recently-renamed Benchmark International Arena.
The still-unnamed venue will be privately-financed, according to a press release, which added that the development will also include a 250-room hotel, 1,000 parking spaces , plus 100,000 square feet of retail, dining and entertainment.
SPP, which will partner with Vinik Sports Group (VSG) to manage the venue, expects to break ground on the project in 2027.
The project—proposed for a vacant lot between Morgan and Jefferson Streets and the Selmon Expressway—fills a void in the Bay area music scene, which does not have a venue this size.
VSG already owns or operates two arenas—Yuengling Center and Benchmark (capacities of approximately 10,000 and 20,000 respectively)—and there are several venues that can host around a couple thousand (Ruth Eckerd Hall, Jannus Live). Carol Morsani Hall at the David A. Straz Center for the Performing Arts holds about 2,600 seats.
The press release added that, “the venue is expected to attract more performers to downtown Tampa and give fans more opportunities to experience live music, immersive experiences, and intimate shows designed for this scale.”
Tampa Mayor Jane Castor. “It strengthens tourism and creates new experiences for residents and visitors, all within steps of the Riverwalk and Convention Center.”
A rep for the proposed venue told Creative Loafing Tampa Bay that Live Nation is not a partner in the financing or ownership of the venue, adding that diverse programming will be led by VSG.
Last summer, the global concert giant—which is at the center of an antitrust probe by the Department of Justice—shared plans to spend $1 billion opening or breaking ground on 18 venues across the country including a 3,500-seat concert and events venue in downtown Orlando’s Westcourt development.
Last month, the promoter, which works with Benchmark and Yuengling Center to help book shows, posted $8.5 billion in Q3 revenue—all while a report from the National Independent Venue Association (NIVA) detailed how a majority of smaller mom-and-pop venues are on the verge of extinction despite collectively generating $153 billion in economic output collectively.
In 2023, CL detailed how the Bay area music scene was alive and well, but faced significant challenges.
Tom DeGeorge, Southeast Director for NIVA told CL that he hopes new venue operators will lean into independent to help program the room, but assumes that Live Nation will run the show.
The rep for Tampa’s proposed new venue told CL that, “While the full programming strategy is still being finalized, there is an intention to work with a range of partners and promoters to ensure the venue attracts a broad mix of acts and experiences.”
NIVA’s report, DeGeorge noted, said while Florida ranked in the top three in nine of 10 categories related to independent concert venues’ effect on the local economy, including employment and tourism—”monopolization, corporate development and predatory ticketing practices” have rendered 65% of indie venues unsustainable.
“I would hope that our city leadership as well the developers in this case looks towards local, but unfortunately, based on everything I’ve seen in the way we operate, I’m not quite sure that’s something that we should count on or if there’s enough people that believe it’s worth fighting for anymore,” he added.
Once open, Tampa’s new 3,500-seat venue would join similarly-rooms in Los Angeles (Dolby Theatre), Philadelphia (Metropolitan Opera House), Boston (Roadrunner), and Chicago (Salt Shed).
UPDATED 12/18/25 9:30 a.m. Updated with comment saying Live Nation is not a financer or owner of the venue.
Pitch in to help make the Tampa Bay Journalism Project a success.
Subscribe to Creative Loafing newsletters.
Follow us: Google News | NewsBreak | Reddit | Instagram | Facebook | BlueSky
This article appears in Dec. 18 – 24, 2025.