OverActive gets go-ahead for Toronto esports venue
OverActive media says it has agreed to lease terms with Toronto City Council to construct a theatre-style entertainment venue at Exhibition Place.
The company made the announcement on December 16.
OverActive’s proposed venue, which will developed by global design firm Populous, is anticipated to book as many as 200 events per year. The 7,000-seat venue is designed to be a destination for music and entertainment bookings as well as major city-wide conventions, corporate events, award shows and a full slate of esports events. It will also provide a home to OverActive Media’s professional Call of Duty and Overwatch League franchises.
“Over the past year, we have worked incredibly hard to get phase one of our performance venue project over the finish line and there’s no slowing down now,” said Chris Overholt, President and CEO, OverActive Media. “With project construction scheduled to begin in late 2022 and completed in 2025, we’ve been aggressively working on the business and marketing plan. We expect to have several capital partners in this project – notable venue operators and developers who will no doubt bring all their experience to bear ensuring its success.”
According to an Economic Impact Analysis prepared by urbanMetrics inc., the performance venue project will bring significant qualitative and quantitative benefits to the city. For example, the project is expected to create more than 3,000 jobs during its planning, design, and construction phases. More than 80 percent of those jobs are expected to be created within the City of Toronto.
Once the building is complete and operational, it is expected to create as many as including 650 direct, indirect and induced full-time equivalent jobs. Approximately 550 of those will be permanent on-site employees.
“Further development in the heart of Exhibition Place through OverActive Media’s performance venue project will create new jobs and investment opportunities, and enhance our position as a global entertainment destination,” said Toronto Mayor John Tory. “With City Council’s approval, I look forward to seeing this project get underway, providing a new hub for Toronto and the surrounding community.”