Toronto's Phoenix Concert Theatre not done yet venue to stay open until 2026

Toronto's storied Phoenix Concert Theatre will not close in the new year as planned.

Owners said Friday the venue will continue operating at its current downtown location on Sherbourne Street until 2026.

In a release, co-owner and operator Lisa Zbitnew says the extension gives them time and flexibility to "move forward" and secure a new location.

The current grounds are being developed into residential housing.

After it was announced in June that the venue would close its doors in January 2025, music fans and local politicians expressed how important the location has been to the community.

Since 1991, the Phoenix has been a go-to spot for up-and-coming local musicians and big-name acts wanting to perform in more intimate settings. It's hosted Canadian legends Rush, the Tragically Hip, and Alanis Morissette, as well as international acts The Rolling Stones, The Roots, and Billie Eilish.