The Rochester Broadway Theatre League has purchased ownership rights for the entire Auditorium Center on East Main and Prince streets.
RBTL has owned the auditorium theatre portion of the building since 2004.
Officials say the acquisition will allow for restoration and renovation efforts that improve the experience for performers and audience members.
"We will enhance patron amenities,” RBTL CEO and board chair Arnie Rothschild said. “We will develop new spaces for corporate entertaining. We will make this an absolute jewel in our community."
Phase one will focus on re-configuring the main floor of the auditorium center.
Renovations are expected to begin later this year.
The overall goal is to have renovations wrapped up by 2030 for the building's 100th anniversary.