Drake and Live Nation Canada have teamed up to make History, a new live entertainment venue in Toronto.

Set to open later this year, the location will have a 2,500-person capacity and is described as “versatile and intimate,” with plans to host 200 concerts and events annually.

“Some of my most memorable shows were playing smaller rooms like History,” Drake said in a statement. “I wanted to take those memories and what I learned to create an incredible experience for both the artists and the fans.”

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Image via Live Nation Entertainment

“History will offer guests up-close experiences with their favourite artists that are unrivalled in Toronto,” explained Riley O’Connor, chairman, Live Nation Canada. “We take pride in and expect History to become an important part of the community.”

“We saw an opportunity to bring Toronto a great new venue, and we have so much gratitude and respect for Drake teaming up with us to bring it to life in the best way possible,” said Michael Rapino, President and CEO, Live Nation Entertainment.

Live Nation added that the venue will be “an anchor of the community, delivering music and culture while also driving economic activity and creating numerous employment opportunities” in the city.

History has been in development for over three years, with construction set to be complete this summer. The venue is situated in Toronto’s east end, right in the heart of the Beaches neighborhood at 1663 Queen Street East, the former location of off-track betting shop Champions Greenwood.

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Image via Live Nation Entertainment

Live Nation initially filed a development application to renovate the facility in May 2016. The promoter’s application included a second-floor mezzanine and noted that the spot is ideal for a venue because it’s located in a mixed-use neighbourhood, on a main street, accessible by public transit, and separated from residential areas.

“I am super excited about hosting a Massey Hall type music venue in the Beach!” local councillor Mary-Margaret McMahon told CBC at the time. “Finally some year-round fun in the east end! Good for our musicians. Good for our economy. Good for our residents.”

For more information, visit historytoronto.com.