A $180 million investment will be made to "transform" the Toyota Center, the home of the Houston Rockets and soon-to-be Houston Comets.

Officials confirm renovations will begin this month on the interior, before work on the exterior is slated to begin on July 1 ahead of the new NBA season. It is predicted that it will take 14 to 15 months, but the arena is planning to stay open for events.

It is expected to be completed ahead of the 2028 Republican National Convention.

According to Toyota Center and Clutch City Sports Entertainment, the renovations will include:

• A 20,000 square foot atrium that will create a covered outdoor gathering space and be equipped with state of the art digital displays

• A season ticket member's lounge

• New Rockets and Comets team store

• New bars and lounges that offer premium experiences such as the new Summit Club with The Sky Bar and HOU Market adding addtional square space

• New elevators that will provide ease of access across across the five levels of the arena.

The popular Skybridge entrance connecting Toyota Center to the Toyota Tundra Garage will undergo an overhaul to enhance the premium arrival experience. All suites inside the arena will undergo full modernized renovations. According to a press release, the arena's original seating and roof will be replaced.

The GRB expansion is set to add 700,000 square feet and plans to "reimagine" the district, according to the Houston First Corporation. The plans were unveiled last month to make it a "vibrant, walkable convention and entertainment district unlike anyplace else in the nation."

SEE ALSO: Plans to 'reimagine' convention district include 700,000-square-foot expansion of GRB

In the first phase of the GRB expansion, officials said a 100,000-square-foot pedestrian plaza will provide easy access to the Toyota Center.

Harris County Commissioner Lesly Briones said in a statement Wednesday that the move will boost economic activity.

"Today's announcement of a $180 million investment into one of our most beloved stadiums represents another step forward for the future of Houston and Harris County as a world-class sports and entertainment destination. This investment will enable increased economic development and expanded opportunities for our region. Harris County is thankful for our partners and will continue to lead with collaboration, innovation, and fiscal responsibility."

During the city council meeting, a breakdown was given of the funds for the investments. According to Whitmire, at least $95 million will come from the state, and the rest will be handled by the Fertitta family, the Rockets' majority owners.

"Today's announcement reflects our commitment to continually invest in Houston and deliver a world-class experience for the millions of guests who visit Toyota Center and downtown Houston each year," said Tilman J. Fertitta, Owner of Clutch
City Sports & Entertainment.

"Toyota Center Reimagined will elevate the guest experience, introduce dynamic newgathering spaces, and ensure Toyota Center remains one of the premier sports and entertainment destinations in the country."