What to expect when Shakespeare comes to York
Similar in style to London's South Bank venue, the open roofed, three-tiered balcony Elizabethan-style theatre will house almost 1,000 people and it is hoped the inaugural season, scheduled to begin next June, will run for 10 weeks.
The team behind it has already decided on the first programme of plays, which will include Romeo and Juliet and Richard III.
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Hide AdLunchbox Productions chief executive James Cundall said: "It is a unique opportunity to put what will be an incredible theatre into a stunning historic setting. All the theatres of this era were in the hustle and bustle of cities, adding to the authentic experience for locals and tourists."
A media launch event is being held on October 30, when more details will be revealed.