Venu Holding Corporation (NYSE American: VENU) announced it is in discussions with several Northern Colorado municipalities regarding a potential entertainment venue development. The proposed multi-seasonal facility would have a capacity of 12,500 and require an investment exceeding $350 million, according to a company statement.

The entertainment company said the venue would serve the Northern Colorado region, which includes Fort Collins, Greeley, Loveland, and Boulder. The area has more than one million residents and approximately 80,000 students enrolled at Colorado State University, University of Colorado Boulder, and University of Northern Colorado.

"We have long believed in the potential of the Northern Colorado market, and I am excited to share our progress as we continue to scale our Colorado footprint," said JW Roth, founder, chairman, and CEO of VENU. "We are encouraged by the interest we have received across the region and can't wait to share more on this world-class development in the future."

The proposed venue would be designed to accommodate concerts, festivals, corporate events, and other programming throughout the year. Plans include premium hospitality offerings such as Owners Clubs and what the company calls Luxe FireSuites.

VENU operates entertainment venues across Colorado, Georgia, Oklahoma, and Texas. The company's portfolio includes Ford Amphitheater, Sunset Amphitheaters, Phil Long Music Hall, and several other entertainment properties.

The company noted that the discussions are ongoing and no final agreements have been reached with any municipalities.