An updated rendering of KeeTown Loop looking northwest from Ashworth Road and Grand Prairie Parkway. Rendering by OPN Architects

Backers of KeeTown Loop, a $100 million entertainment district in Waukee, this week released updated architectural renders of the development planned on the northwest corner of Grand Prairie Parkway and Ashworth Road.

The rendering by OPN Architects shows a large entertainment facility called the Venue surrounded by restaurants, retail strip centers and a hotel.

Live Nation Entertainment Inc. has signed a 20-year lease to manage and operate the Venue, the facility in which concerts and other events will be held. The Venue is expected to hold up to  3,500 people.

Harry Coin, a Quad Cities developer who is a principal of the 40-acre KeeTown Loop development, said he was excited and relieved when Live Nation signed the agreement with KeeTown Loop.

"I was extremely excited but there was a little bit of relief because I knew how important it was for the region," he said. "As an anchor in the development, it will draw others to [KeeTown Loop]."

Planning for KeeTown Loop began in 2019 and construction was originally expected to begin in spring 2020, just as the pandemic hit. Construction of the first phase of the project is expected to be completed by 2025.