The Flats' new concert venue

A new music venue is coming to the west bank of the Flats.

Driving the news: Concert promoter AEG Presents announced this week that Globe Iron, a 1,200-capacity, multipurpose space will open March 1 in the historic Globe Iron Works foundry building on Elm Street.

The intrigue: Early renderings show a rehabilitated space with a large courtyard that will also host corporate functions, weddings and conferences.

• Globe Iron adds to AEG's portfolio in Cleveland, which includes operating Jacobs Pavilion at Nautica and the legendary Agora on Euclid Avenue.

What they're saying: "Globe Iron will be a must-play venue in the region," Jason Rogalewski, senior vice president of AEG Presents Great Lakes, said in a statement.

• "It will check all the boxes with state-of-the-art sound and lighting, perfect sight lines, and world-class amenities for both fans and artists."

What's next: AEG will unveil Globe Iron's concert schedule later this year.