MEMPHIS, TN (WMC) - Graceland revealed plans to add a 6,200-seat venue.
The venue will be about 2,000 seats smaller than the Landers Center in Southaven, and it will be used for concerts and graduations, according to Graceland representatives.
It will be second only to FedExForum in venue size in Shelby County.
The theater, which will be located across the street from the Guesthouse at Graceland, will cost $40-50 million to construct, adding 150 permanent jobs in Whitehaven--not including construction.
"We welcome this growth and economic development in our community," City Councilwoman Patrice Robinson said.
Graceland said a fee from each ticket would be given to projects to reinvest in the Whitehaven area.
They estimate $300,000 each year will be invested directly in the Whitehaven Economic Redevelopment effort.
Robinson said Elvis Presley Enterprises proposed paying for it with help from taxes. That's money Robinson believes will help bring other businesses and jobs to the Whitehaven area.
"We want to make this a robust community for people visiting and tourists but available to the community as well," Robinson said.
The venue is projected to open in early 2019.