The organizers of the Bumbershoot Arts & Music Festival plan to open an arts and music venue in the vacant Bed Bath & Beyond space in downtown Seattle.

Bumbershoot producer New Rising Sun has partnered with the Muckleshoot Indian Tribe to convert the vacant 66,000-square-foot space for an opening by spring 2025. The building has been mostly vacant since the retailer moved out in 2018. The space will be called Cannonball Arts.

The planned venue, at 1930 Third Ave. on Virginia Street between Third and Fourth avenues, is two stories and spans two city blocks. New Rising Sun secured a five-year lease from the building owner, Clise Properties.

“Cannonball Arts gives Bumbershoot a year-round platform to celebrate the wealth of creativity that calls the Pacific Northwest home,” says Greg Lundgren, co-producer and creative director, New Rising Sun. “It is ambitious in scale and scope, will contribute to the revitalization of downtown Seattle, and train the next generation of makers, producers and curators using Cannonball Arts as classroom.”

The city has long envisioned remaking Third Avenue, and the deal becomes a key piece of downtown Seattle’s revival.

“They’re the ideal tenant for this creative commercial space,” says Lori Hill, executive vice president of leasing at Seattle-based Clise Properties. “We look forward to collaborating with them well into the future.”

Bumbershoot 2024 takes place Aug. 31 and Sept. 1. It will be the 51st anniversary of the Northwest’s oldest festival.