(ABC 6 News) – The Paramount Theatre has been creating memories here in Austin for almost a century.

People came out for the grand reopening and to learn more about what will soon unfold inside the historical walls.

The Paramount Theatre opened its doors back in 1929. Throughout the years, countless people stepped inside the theatre taking in a movie or any of the number of events that took place there.

“When we were teenagers, we came here almost every Friday night. We saw all current movies here, liked to sit in the balcony when we were a little older, we sat on the main floor when we were younger,” Susan Sathry said.

As the theatre began to age, so did its condition. That’s when plans got underway for a renovation.

With expanding the theatre, they’re looking to add a main floor restroom, replace all the seating, and redo the concession space.

“There will be a refresh with the new seating, the new carpeting, look beautiful but we will be preserving all of the historic features of the facility,” executive director of Austin Area Arts Thomas Robbins said.

Part of that history is a popcorn machine that’s been popping since the 1940’s. Before it retires to become a museum piece, visitors were served up one last helping.

The renovation will cost over $4.3 million. With the Hormel Foundation approving a $3.67 million grant, Austin Area Arts would need to cover the remaining $1.2 million.

They’re about halfway there as Austin Area Arts still needs to raise over $640,000 for the project.

Many can’t wait to see the transformation complete and create new memories.

“Hopefully that the people will come in and see what’s here and appreciate what’s here because I think that we really have a gem,” Sathry said.

They hope for renovations to be completed in time for the 14th annual Austin Artworks Festival.