Phase 2 has been sold to a Lynchburg-based company, Purpose Driven Events, for $3.5 million, the organization announced Wednesday morning via Facebook.
Phase 2 closed in November 2019 when Gary Shotwell, a managing partner, retired. After considering several offers from interested buyers over the past month, Phase 2 closed the sale with Purpose Driven Events.
The venue opened 27 years ago as Cattle Annie’s and was renamed Phase 2 Dining & Entertainment in 2010 as it sought to move away from a country and Western image. Purpose Driven Events said the venue’s new name will be announced today.
While live events are not easily feasible during the COVID-19 pandemic, Purpose Driven Events said it will spend the closure time renovating the building.
The company has plans for a new box office system and admissions process. The venue will be repainted and redesigned, and a “high-quality backstage area” will be created for artists when live shows return, as well as expansion of the stage and installation of a new sound and lighting system, according to Wednesday’s announcement.
A new security force will be established as well, the company said. Its goal, the company added, is to focus on a “sustainability and environment friendly infrastructure.”
A new restaurant will open in the space and operate under a separate name and theme.
When live indoor events can safely begin, Purpose Driven Events said it intends to book events showcasing a wide variety of music genres and non-musical special events such as comedy, mixed martial arts, car shows and boxing. A private events program also will be made available to accommodate functions of “all sizes.”
“I have spent the last several years studying, and most importantly, listening to entertainment lovers in this area,” Jonathan Slye, chief executive officer of Purpose Driven Events, said in the announcement. “I believe wholeheartedly we are going to present them with a venue that encapsulates all of the many components they have longed for, while staying true to the heart of this local community.”
Purpose Driven Events has produced several large events in Virginia since beginning its service 10 years ago, including the annual Blue Ridge Rock Festival, the Blue Ridge Country Festival, Blue Ridge BBQ & Bourbon Festival and The Great American Mud Bog. Additional event plans are in the works as the establishment grows, the company said.