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Construction to create a two-level, 66,156-square-foot music venue is progressing at Lloyd Center, in Northeast Portland.

Demolition of the former Nordstrom building was completed in September. Crews are now working on the foundation at the site, at 901 N.E. Multnomah St. The new building, slated to open in early 2027, will be able to accommodate up to 4,250 guests.

A master plan was created for redevelopment of the area. The next project to be completed is the music venue, according to the project’s website.

The total project cost is estimated to be between $80 million and $90 million. An $18.8 million facility permit is under review for the project. Plans call for renovating the below-grade area and then constructing a two-story multipurpose event structure.

The ex-Nordstrom building’s full basement will be updated to hold storage space, catering space, production offices and dressing rooms.

Portland-based independent concert promoter Monqui Presents and global concert promoter AEG Presents are the project owners. WORKS Architecture is the architect, interior designer and landscape architect. Lease Crutcher Lewis is the general contractor. The project team also includes civil engineer 7 Oaks Engineering of Silverton and structural engineer DCI Engineers.

The building will have a movable stage, stadium seating and a mezzanine with a porch to accommodate smoking, Monqui Presents co-owner Mike Quinn said. A large plaza in front of the former Nordstrom building will remain. Parking structures to the north will also remain, he said.

In addition to being served by ample parking nearby, the venue will offer access to light rail and streetcar lines, and the Blumenauer Bicycle and Pedestrian Bridge, according to WORKS Architecture’s website.

With CX (central commercial) zoning, Quinn said development does not require special use permits or zoning changes.

鈥淚t’s not just anywhere that you can put a building like this that has potential impact on neighbors and the whole area, dumping 4,000 people out on the street,鈥� Quinn said, adding that good sidewalks and lighting are in the vicinity.

The venue will have first-class lighting and sound, Quinn said. It’s expected to host 125 shows in the first year, and be operated by 15 full-time employees and 80-100 hourly staffers per show.