New ‘world class music venue’ coming to Kentucky. These big-name acts will play there.

A new state-of-the-art music venue that will bring big-name musicians will soon be coming to Northern Kentucky near Newport on the Levee.

The venue was announced Thursday by AEG Presents, PromoWest Productions and Covington-based Corporex, which owns the 35-acre vacant land in Newport.

According to PromoWest, which is one of the world’s largest concert promoters, the venue will host 180 events per year and is expected to attract 350,000 to 400,000 fans annually. The design will accommodate 2,700 people in its indoor space with outdoor capacity for summer shows allowing up to 7,000 concert goers.

“The Ovation development is exciting on many levels,” Shawn Trell, Chief Operating Officer for AEG Presents, said in a release. “At its core, it represents a marriage between a first-class developer and a first-class content provider and venue operator.”

The “world class music venue” will cost $40 million, according to news outlets.

Construction will start immediately on the venue, according to Local 12. It’s expected to be completed by the end of 2020, according to Cincinnati.com.

Cincinnati.com and WCPO reported the venue will feature acts that include Death Cab for Cutie, Walk the Moon, Luke Combs, The Killers, Snoop Dogg and Alice Cooper.

“Anybody who’s hot in the industry, that’s who we bring to these facilities,’‘ Scott Stienecker, founder and CEO of PromoWest, said in a news conference Friday, according to Cincinnati.com.

The location will eventually expand to include restaurants, night life and other entertainment spots, Promo West said in a release. It will sit upon a 550-car structured parking garage.

According to Local 12, development on the land, which has been called Ovation, has been in the works since 2006.

“This project will totally redefine the face of Newport,” Newport City Manager Tom Fromme, according to WCPO.