Live Nation has signed a 25-year lease with the city of Atlanta, GA, to operate the 18,920-capacity, city owned Lakewood Amphitheatre, following unanimous approval (14-0) from the City Council.

The agreement calls for the city of Atlanta to receive $180,000 in annual rent from Live Nation, as well as 10 percent of all ticket sale, parking and concessions proceeds. Live Nation will also invest $4 million on improvements to the southeast Atlanta venue.

“This is an incredible opportunity for south Atlanta,” said Councilmember Joyce M. Sheperd in The Weekly. “Live Nation will not only bring great concerts to Atlanta, but will improve an anchor that has been in our community for years, while also increasing City revenue.”

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Upcoming shows include Coldplay, New Kids on The Block, No Doubt, Kid Rock with Lynyrd Skynyrd, and Aerosmith, among others. Built in 1989, the venue’s previous names were Coca-Cola Lakewood Amphitheatre and HiFi Buys Amphitheatre.