Houston's award-winning Alley Theatre is moving temporarily for a multi-million dollar renovation.

The Alley Theatre will perform its 2014-2015 season at University of Houston while its building is renovated.

All Alley Theatre performances will be held on UH's Wortham Theatre at the main campus.

On Wednesday, the theater's director announced the overhaul for the existing building, with renovations beginning on July 14.

Organizers hope it will take the theater to a whole new level in Houston.

"When the theater was built in 1968 it wasn't very scenery friendly," said Gregory Boyd, Alley Theatre Artistic Director. "There's been 40 years of technology since then."

The renovation is funded by private and public contributions to the Alley through the Extended Engagement Capital Campaign, co-chaired by Meredith Long and Roger Plank.

The $46.5 million renovation will include fully modernizing the existing building, including the Hubbard Stage and lobbies, the cleaning of the concrete building exterior, and improvements in infrastructure that will result in a more energy efficient building.

Work on the project is expected to be completed by summer 2015.