Ready or not, a colossal development could be changing the Exhibition Place forever. Toronto’s new esports venue announced on Friday that it’s now one step closer to completion and based on its $500 million plans, this place will be absolutely astounding.

OverActive Media Corp, the company behind the new complex, confirmed that lease terms approval has been secured for the new venue from the Exhibition Place Board of Governors. The next phase of development will happen later this year when the City completes its final review.

If given the green light, the 7,000-seat venue will be completed by 2025. It’ll be giving the nearby Budweiser Stage and Scotiabank Arena a run for their money, hosting over 200 “premium music and entertainment” events per year.

Renderings of the new development show just how incredible it will be once it opens to the public.

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toronto esports venue
Photos via OverActive Media Corp.

It’ll also double as a convention centre, hosting corporate events, product launches, even awards shows. Primarily, however, the entertainment complex will serve as home base for the city’s two major esports teams, the Toronto Ultra of the Call of Duty League and Toronto Defiant of the Overwatch League.

If these teams prove to be any better than the Blue Jays or Raptors, these teams might even steal Toronto fans’ loyalty.

toronto esports venue
Photo via OverActive Media Corp

Set right on the waterfront, the futuristic-looking venue will have an in-bowl design ideal for large-scale concerts and performances of all types. The plans also include a hotel tower with panoramic views of the city and an adjoining “urban room” to host even more events.

toronto esports venue
Photo via OverActive Media Corp.

“The interior design of both the venue and the hotel offer authenticity and a refined sense of style, inclusive of distinct influences which are uniquely Toronto,” OverActive Media said in a press release.

Between $4.5 million “sky-bridge” penthouses and soaring 95-storey condo towers, clearly, no goal is too lofty for the property developers in this wild city.