KC-area city approves $120M bonds to build new outdoor concert venue on Missouri River

Kansas City's Northland is set to get a new outdoor concert venue within roughly the next two years.

Earlier this week, the Riverside Board of Aldermen approved $120 million in bonds to build the new amphitheater along the Missouri River, which will be leased by global entertainment company LiveNation.

LiveNation will pay $95 million for the project and is expected to save about $15 million through agreed on tax incentives, including sales and use tax exemptions on construction materials and a 10-year property tax abatement. The city owns the site, so it doesn't currently generate tax revenue. The state of Missouri will put $20 million to the project and Riverside will pitch in $5 million.

The theater is expected to be located northwest of Horizons Parkway and Interstate 635 near the KC Current training facility in the Platte County city of Riverside, east of Parkville and north of Kansas City, Kansas.

The project was announced last year. The stadium will seat 15,000 people, a LiveNation spokesperson said. Seating includes 1,666 pit seats, 6,076 general seats, 4,135 lawn seats, 1,502 premium seats, 432 premium boxes, 410 premium group sales and 786 premium lawn seats.

The theater will have about 5,200 parking stalls and 200 ride-share stalls.

The opening date is yet to be announced. Groundbreaking will happen soon in Riverside.