TORONTO -- Toronto will see a new music venue open its doors before the end of the year.

On Tuesday, Live Nation announced that they have partnered with Canadian rapper and songwriter Drake to open a new venue, called History Toronto, at 1663 Queen Street East in Toronto’s Beaches neighbourhood.

Live Nation says History Toronto has been in development for over a year and plans on hosting 200 events annually.

According to Live Nation, the venue will feature a convertible general admission area and reserved seating configurations for all types of events, “from concerts, live entertainment, and galas to community programs.”

“Some of my most memorable shows were playing smaller rooms like History,” Drake said in a release provided by Live Nation.

“I wanted to take those memories and what I learned to create an incredible experience for both the artists and the fans.”

Riley O’Connor, Chairman at Live Nation Canada, says History will offer guests intimate experiences, with a maximum capacity of 2,500 guests.

“We take pride in and expect History to become an important part of the community,” he continued.

President and CEO of Live Nation Entertainment, Michael Rapino, says the company saw “an opportunity to bring Toronto a great venue.”

“We have so much gratitude and respect for Drake teaming up with us to bring it to life in the best way possible,” Rapino said.

Live Nation says that concerts and events, “along with additional details and career opportunities,” will be announced in the coming weeks.