Thanks!
The way I see it, this whole complex is nestled between the Terrazzo and the forthcoming Fairfield Inn. The 'Midtown' sign is designed to attract the attention from 40w/65N traffic as they're heading toward the Demonbreun which will be especially effective with 12th and Laurel there, as well.
The House of Blues is counting on those passers-by, too. And the fact that it's shaped like the body of an acoustic guitar makes me think that this concept either predates the convention center, or they're trying to create a consistent structural motif along that stretch of the highway and apparently aren't worrying about overdoing the concept (though they maybe should be).
That said, I'm not sure what's going on with the pedestrians and cars in the lower left hand corner of the rendering. If I"m right about the location, they're all walking straight toward the interstate. It could be just stock borders that the rendering artist just threw in to paint a more complete picture. It could also be a pedestrian bridge or something to connect with 12th, but that seems unlikely. If it's anything, I'd guess its either a little park or some art or a sound barrier, but the more obstruction that's there, the less effective the Midtown sign and House of Blues location will be, so who knows.