That’s right friends! I can’t believe it either. New investors for the club are currently looking for a new Manhattan venue for CBGB. According to a spokesperson for the club they will not be trying to dwell too much on the past. “They are hoping to open a venue focused on new music. They are not trying to recreate the past but hope to open a space in the spirit of CBGB.”

To add to the good news, CBGB will host it’s first music festival will take place July 5-8 to showcase 300 indie bands, dozens of Manhattan and Brooklyn venues, film screenings and panel discussions.

“It’s a relief to know that it’s not going to die,” Lisa Kristal Burgman, daughter of the club’s founder Hilly Kristal, told the New York Times. “It’s going to be reborn.”

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