ALBANY, N.Y. -- More than 17 million people have attended events at the Times Union Center since the downtown Albany arena first opened its doors 26 years ago.

“At this time in its life, a lot of facilities are torn down,” said Keith Leal of the Gilbane Building Company.

“In this case, I’m not going to do that. We just paid it off,” said Dan McCoy, the Albany County executive.

A groundbreaking ceremony was held at the arena Wednesday to mark the official start of a $19.6 million renovation project.

“This is upstate New York’s premier sports and entertainment facility. It truly has been, and it truly will be with this kind of investment,” said Bob Belber, the Times Union Center general manager.

The project will enclose the arena’s front atrium entrance, creating more open space. Plans include a new lobby and pre-event space, plants and a waterfall.

“The idea that they had a vision of how we can save it, but really make it a 21st century premier arena was, I think, the smartest move from a taxpayer point of view,” said Leal.

Stairs and escalators are being replaced. On the second floor, concrete flooring is being pulled up brick by brick. It will be replaced with carpeting.

“They're going to have a great place to just come in, you know, start getting some pre-food before you go in there, enjoying the atmosphere,” said McCoy.

The outside of the building is also getting a makeover, with six LED boards to be installed.

“You have to figure out how to get all this done while all the businesses on the street remain open [and figuring out] how the arena can continue to have all their events. It has been very exciting for the entire Gilbane team,” said Leal.

Construction is expected to be complete next fall. Project leaders are confident renovations, along with the neighboring convention center, will breathe new life into downtown Albany.

“This is going to help not just with bringing great concerts and sports events here, but filling hotel rooms -- which, in essence, will help us pay for the $19.6 million that were invested into the arena,” said McCoy.

Project leaders hope renovations will help attract big ticket events to the Times Union Center in the coming years. Arena staff says, even with renovations, they’re prepared to host games of the NCAA men’s basketball tournament in March.

Senator Chuck Schumer and Congressman Paul Tonko are lobbying the NCAA to bring first- and second-round games to Albany. The NCAA pulled games out of North Carolina due to the controversial HB2 law requiring people to use the bathroom that matches the gender on their birth certificate.

NCAA President Mark Emmert, in a letter to Tonko, said a decision on new sites will be made Thursday.