Organizers say the Hip Hop Hall of Fame Museum has found a new home in midtown Manhattan.
The Wall Street Journal states the plans also include a restaurant, arcade, concert lounge, television studios, marquee, community and corporate rooms, and a gift shop.
The Hip Hop Hall of Fame Awards television show was broadcast on BET in the 1990s. The awards were no longer televised after high-profile murders of hip-hop stars.
The Hall of Fame last inducted honorees in 1997.
The awards show will return to television in November, broadcast from the Apollo Theater.