The National Music Centre’s new home, set to open to the public in 2016, has a name.

The building, on the former site of the King Edward Hotel in the East Village, will be known as ‘Studio Bell’ following Thursday’s announcement of a sponsorship agreement reached between Bell Canada and NMC.

"Partnering with Bell supports our national vision and ability to connect with music lovers from coast to coast to coast," said Andrew Mosker, President and CEO of the National Music Centre. "Studio Bell will be a technologically innovative national hub celebrating Canada and the power of music. We are confident the Studio Bell partnership positions us to deliver on our mission, vision and commitment to honour Canada's music story."

The 12 year, $10 million partnership deal was announced in a ceremony which included a performance by Canadian rock icon Randy Bachman. The former Guess Who and Bachman Turner Overdrive guitarist presented the NMC with the treasured guitar he used during the writing and recording of the song ‘American Woman’. The guitar will be loaned to the NMC to be placed on exhibit when Studio Bell opens.

With the addition of Bell’s sponsorship, the NMC has raised $125M of its $168M campaign goal to construct Studio Bell which will include 22,000 sq. ft. of exhibitions, recording studios and a 300 seat performance space.

Bell Canada is the parent company of CTV