El Paso Amphitheater Project Delayed to 2028 Completion
The developer secured a $20 million loan using the site as collateral while negotiations regarding parking land remain ongoing.
Updated on Oct. 27, 2026 in Construction
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Venu Holding has leveraged the 20-acre former Cohen Stadium site in El Paso as collateral for a $20 million loan, while simultaneously pushing the expected completion of its planned 12,500-seat amphitheater to 2028. The development, which relies on $31 million in city performance-based incentives, remains stalled as final parking agreements with local institutions remain unresolved.
Why it matters
The delay and use of land assets as leverage underscore the project's evolving financial risk profile as construction costs have surged to over $160 million. For local operators, the uncertainty highlights how reliance on complex public-private partnerships can stall major infrastructure projects and impact expected demand shifts.
The project is now estimated at over $160 million, up from the original $100 million budget, and involves a $20 million loan secured against the 20-acre former Cohen Stadium site. City leaders have committed $31 million in performance-based incentives for the 12,500-seat venue.
The players
Venu Holding
A developer specializing in large-scale entertainment venues and amphitheaters.
El Paso Community College
A local higher education institution whose property board is involved in negotiations for parking access.
The details
Venu pledged the El Paso property as collateral to secure a $20 million loan from a Texas tax consulting firm, with the capital intended for a separate amphitheater project near Dallas. Construction progress has stalled as the company negotiates parking land access with the El Paso Community College (EPCC) board, complicating the original project timeline and development schedule.
Timeline
April 2024: El Paso city leaders officially approved the amphitheater project.
March 2026: Original targeted completion date for the project.
Summer 2026: Venu secured a $20 million loan using the project site as collateral.
June 2026: The EPCC board approved a letter of intent for parking land usage.
2028: New projected completion date for the concert venue.
Market Landscape
This project follows the pattern of public-private partnership (P3) incentive agreements where developers leverage site control to secure capital for multi-market expansion. It marks a departure from original feasibility expectations as reliance on land-access negotiations creates significant project friction.
Operators in the service and entertainment sectors should monitor the resolution of parking agreements, as these site-specific deals dictate the venue's ultimate accessibility and local economic impact. Financing structures involving land collateral warrant close scrutiny for companies relying on similar public infrastructure benchmarks.
The takeaway
The project serves as a signal that high-concept entertainment developments are susceptible to significant cost escalations due to technical additions like audiovisual systems. Local business owners should track the EPCC board’s future meetings regarding land access as a leading indicator of project viability.
Further reading
For more on development standards and project oversight in the region, see Construction.
Source note: This article includes information reported by KFOX.
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