YOUNGSTOWN, Ohio - After years of discussion and ownership changes, we finally now know what's planned for Youngstown's old Liberty Paramount Theater.

The renovations will take place over the next five years through several phases of funding.

Architect Rodney Lamberson with the Strollo Architect Firm says most of the building will be demolished and turned into a "cultural commons" which includes a marketplace and amphitheater.

The front facade of the building will remain and can be used for multiple purposes.

"There are a couple of store fronts. There's a lobby area that could be used to support the activities behind and public gathering space on the second floor. Sort of what we're thinking about at the moment," said Rodney Lamberson from Strollo Architects.

The entire project is slated to be completed by 2017.