Drake and Live Nation Canada are collaborating on an intimate new live entertainment venue in Toronto.

Drizzy and Live Nation Canada are making History, the name of the venue, with its doors set to open later this year. The Toronto location will have a 2,500-person capacity with plans to host 200 concerts and events annually.

RELATED: Drake And 3-Year-Old Son Adonis Take In Lakers Game

“Some of my most memorable shows were playing smaller rooms like History,” Drake said in a press release. “I wanted to take those memories and what I learned to create an incredible experience for both the artists and the fans.”

“History will offer guests up-close experiences with their favourite artists that are unrivalled in Toronto,” explained Riley O’Connor, chairman, Live Nation Canada. “We take pride in and expect History to become an important part of the community.”

RELATED: Drake Rents Out 70,000-Capacity Football Stadium

History has been in development for over three years, with construction scheduled to be complete later this summer. The venue is situated in the east end of the city, in the heart of the Beaches neighbourhood at 1663 Queen Street East.