Blake Shelton and Ryman Hospitality Properties Inc. have partnered to open a $20 million entertainment complex called Ole Red Nashville on Music City’s Lower Broadway in 2018.

Shelton, Ryman Hospitality Properties chairman and CEO Colin Reed, WSM-AM/Nashville’s Bill Cody and Nashville Mayor Megan Barry were on hand for Thursday morning’s (Jan. 5) announcement at the historic Ryman Auditorium.

Located two blocks away from the Ryman at 300 Broadway, the 26,000-square-foot space will include a two-story bar, restaurant, retail area, performance space, dance floor and VIP booths for small groups, plus a private event space and a 6,000-square-foot rooftop area featuring an indoor/outdoor bar and restaurant.

Shelton and Ryman Hospitality have partnered with Tuck-Hinton Architects and Nashville’s Anderson Design Studio for the project. Currently, the space is the Broadway National Bank building, which is more than a century old, and the home of the Opry Originals retail store.

“It’s amazing to me to see a song that’s been such a big part of my career come to life in the plans for Ole Red,” Shelton said. “Nashville and Tishomingo are both places that are important to me, and it’s great that each location is going to have its own personality inspired by one of my favorite songs. It’s always been a dream of mine to create something like this where people know they’re going to have a good time as soon as they walk in the door, and I couldn’t be more excited that my friends at the Opry and Ryman Hospitality Properties are making it happen.”

In May 2016, it was revealed that Shelton purchased the former home of Miranda Lambert’s Pink Pistol Boutique in his hometown of Tishomingo, Oklahoma. That property will be the new home of Ole Red Tishomingo opening in late 2017.

“Ol’ Red,” one of Shelton’s signature songs, peaked at No. 14 on Billboard’s country airplay chart in 2002.

Other artists with new honky-tonk properties opening on Nashville's Lower Broadway include Dierks Bentley, Alan Jackson and John Rich.