A venue that once hosted some of the biggest names in the music industry is being brought back to life, starting with a groundbreaking ceremony Thursday.

LIU and BSE Global are coming together to renovate the theater -- to revitalize its historic music roots and also host a mix of family entertainment, comedy, sporting events and other special programs.

The renovation will keep the 90-year-old venue alive by retaining many of its existing features while also modernizing the space to meet today's standards. 

LIU students will gain hands-on industry experience by working with BSE Global's team to run the venue.

Construction is expected to be completed mid-next year.