Located at the Spallation Neutron Source, VENUS is an instrument optimized for wavelength-dependent neutron imaging techniques, namely Bragg edge and resonance imaging, across a broad range of neutron energies (from meV to hundreds of eV). The VENUS construction project started in Fall 2018, establishing a conceptual design of the major components and timeline for purchasing, testing, and installation. Completion of the VENUS instrument is anticipated late 2024. This instrument comprises components such as a set of boron carbide apertures designed for both thermal/cold and epithermal neutrons, a suite of choppers (T0 and single disks), beam collimators, and a cadmium filter. The time-of-flight detector at VENUS will be the micro-channel-plate Timepix detector and will be positioned 25 m away from the source. This manuscript describes the instrument general layout, explains the choice of the moderator, and specifies the VENUS key capabilities. It also provides the status of the construction project with installed components. Discussions about software development are also presented.