CBS Corp., the nation’s largest pay TV operator, plans to open a new entertainment center at a major entertainment district in the San Francisco Bay Area, a source familiar with the plan told Bloomberg News.
The location is a key location in the Bay Area’s tech boom, where TV and movie studios and music festivals are springing up.
The $1.9 billion, 1,800-space building will be built by a local company, according to the source, who asked not to be identified because the deal is not public.
The project will include a new auditorium, dining and entertainment venues, retail, offices and a retail and parking lot.
The facility, which will be the company’s largest entertainment center outside of its home base of New York, is located near the iconic “Big Apple” in the heart of the tech sector.
CBS also plans to add additional theater space at the building, which has been home to the popular AMC Entertainment Center since 2004.
CNBC reported in December that the company has received $7.5 million in incentives for the project.
According to the report, CBS will build the new building in the historic Mission district of San Francisco, where the company also has a new Hollywood Cinema.
The new building will house the company is known as “The Hub,” a joint venture between CBS and the California Department of Finance, which oversees the state’s economic development.
The entertainment center is expected to open in 2019.