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A concert venue could be coming to Canterbury Park in Shakopee. 

The race track wants to sell about 40 acres to Minneapolis-based Swervo Development, which hopes to build a 19,000-seat amphitheater as part of the Canterbury Commons development, Canterbury said in a news release. Swervo is the same company that transformed the Armory in Minneapolis into a live music venue. 

When the proposed amphitheater is complete, it is expected to attract major music acts and other events, Canterbury said. 

“The proposed amphitheater will be a centerpiece of our Canterbury Commons development and reflects our strategic focus on working with accomplished partners to create best-in-class live, work and play amenities and customer experiences as we continue the development of our available land," Randy Sampson, chairman and CEO of Canterbury Park, said in a news release on Tuesday.

Canterbury Park and Swervo have entered into a purchase agreement for Swervo to acquire about 40 acres of land along Canterbury Road and Unbridled Avenue. The amphitheater project does need approval from local and state regulators, and the purchase agreement is subject to the needed approvals. 

The news release says Swervo has been working with the City of Shakopee as the city does an environmental review of the amphitheater proposal. This environmental assessment worksheet is the first step in the approval process. 

"We welcome the news about Canterbury Park’s further investment in its horse racing operations and look forward to starting the city review process for Swervo's amphitheater proposal, which has tremendous potential to provide additional entertainment choices and boost our local economy,” Shakopee Mayor Bill Mars said in a statement. “Canterbury Park has deep roots in Shakopee, and its development efforts will only strengthen our community in the future.”

If the amphitheater gets approval, Canterbury says it will also invest in "significant improvements" to its horse stable area, including renovations of existing facilities; adding new barns, stables and dorms; and reconfiguring the existing training track. 

Canterbury will present its redevelopment proposal to the Minnesota Racing Commission for regulatory review in the second quarter of this year. And if approved, construction would begin after the 2022 season.

Here's a graphic of the proposed changes: 

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