The Oil Palace is set to open its doors on Saturday night after it was closed for over a year for remodeling.

The venue has been an East Texas pillar since it was built in 1955. It has hosted concerts, sporting events, rodeos and even high school graduations.

"It's their first ever concert, or they graduated high school here or they saw a great speaker or preacher or whatever it is," said spokesperson Kevin Barbaro, "It means so much to the local community."

Since construction began on the building in 1955, some elements began to weather.

"We had to put on a whole new roof and part of the problem was that the roof was leaking because it was the original roof from 1955," said Barbaro.

Part of the renovations include upgrading the concessions stands, seating areas and lighting up the parking lot.

"We replaced all of the lighting outside with LED lighting, then added lighting because one of the problems we had in the past was that the parking lot was not lit," said Barbaro.

Barbaro went on to say, the upgrades don't stop wth the renovations.

"So far, it's been about a $2 million renovation all together and once it's all said and done, within probably the next year, there are additional phases to the renovation," said Barbaro. "There is plans for an expansion."

Barbaro went on to say, the main goal is to give East Texans a place to enjoy live entertainment and make memories.

"We own 65 acres here, and we have plans now to potentially open an outdoor venue here too, so it could host festivals, it could host motocross, it could host rodeo, basically anything," said Barbaro.