McKinney Sunset Amphitheater tied to $80 million financing deal

McKinney’s Sunset Amphitheater is no longer just a construction site at U.S. 75 and State Highway 121. Venu Holding Corporation said it is pursuing an $80 million sale-leaseback tied to the parking garage, a financing move that could help fund the project but also adds another layer of obligations around a venue already drawing close scrutiny. For McKinney residents, the real question is whether the money helps push the amphitheater closer to opening or makes the path to completion more complicated.

Venu said the McKinney transaction is part of an approximately $250 million financing plan across its current assets and development pipeline. That broader strategy reaches beyond Collin County to projects in Broken Arrow, Houston, El Paso and Chattanooga, but McKinney remains one of the company’s most visible bets. The amphitheater is being developed with the City of McKinney, the McKinney Economic Development Corporation and the McKinney Community Development Corporation, and the project is backed by Eight Elite Light Beer.

The venue is planned for 46 acres at the northeast corner of U.S. 75 and S.H. 121. City materials say it is designed for up to 20,000 guests in full-capacity mode and about 5,000 in a multi-season configuration, with fire pit suites, VIP parking, dedicated restrooms and The Aikman Club among the premium features. McKinney officials say the project represents a projected $300 million economic investment and could generate more than $3 billion in impact over its first decade.

The timing has already shifted. City materials now list completion as summer 2027, after earlier site-plan expectations pointed to a 2026 opening. That matters for nearby drivers, businesses and neighborhoods, because the project is expected to attract major touring acts, more than 1,300 direct and indirect jobs, and a steady flow of concert traffic into north McKinney. Restaurants, hotels and commercial sites along the U.S. 75 and State Highway 121 corridor stand to gain if the venue performs as projected.

At the same time, the project has never been free of public concern. McKinney City Council approved the original development agreement on April 16, 2024, by a 6-1 vote, with Council Member Justin Beller opposed. Residents raised traffic and noise concerns then, and those questions remain part of the discussion as the city has continued to amend the agreement and authorize funding for impact fees and offsite infrastructure improvements. The amphitheater’s future now rests on whether private financing and public promises can stay aligned long enough to deliver the venue on schedule.