Rapper Jay-Z, backed by a 12-piece band, has been tapped for the October 15 grand re-opening of the iconic Hollywood Palladium in Hollywood, CA, following the building’s 18-month renovation.

Venue operator Live Nation closed the 4,000-general admission capacity venue for renovations since assuming the lease in April 2007. Tickets go on sale September 5 through LiveNation.com.

Among the top to bottom renovations are major upgrades to the stage infrastructure to accommodate larger productions and an overhaul of all interior and exterior areas that will bring the venue up to date while preserving its original aesthetic integrity, including a new dance floor, lighting, upgraded restrooms, new paint and carpeting.

“I’m honored to play such an iconic venue,” said Jay-Z in a statement. “Just as Frank ushered in a golden era, I hope this opening will mark the beginning of a resurgence in generation-defining live music.”

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Jay-Z recently signed a long-term, multi-rights deal with Live Nation’s Live Nation Artists division.

The Hollywood Palladium opened its doors on September 23, 1940, with a concert by the Tommy Dorsey Orchestra, featuring the soon-to-be famous Frank Sinatra. In those days, the Palladium was the place to be seen for celebrities and wildly popular with local music and dance fans as well

In 1961, the venue became a television studio and over the years has served as the location for such award shows as the Emmy Awards, The Grammy Awards, The NAACP Awards and Country Music Awards. The venue eventually returned to its musical roots, with man of the biggest names in rock and roll gracing its stage, including the Rolling Stones, James Brown, Led Zeppelin, The Who, Rod Stewart, The Police and Red Hot Chili Peppers, among many others.

The Hollywood Palladium joins Live Nation’s current roster of venues in Los Angeles that includes the House of Blues on Sunset, The Wiltern Theatre, and Gibson Amphitheatre.