The overall project, which includes the Reed Alley area of campus as well will cost an estimated $21.3 million, but athletics director Damon Evans estimated the costs for the work on Stegeman to run about $11.8 million.
The renovation will involving expanding the concourses and upgrading the restrooms and concessions at Stegeman as well as remodeling the North and South facades with glass fronts, which Evans said will provide an additional 10,000 square feet of concourse space.
"It will give the appearance outside of a little different look, a little bit more modern, while at the same time maintain the credibility of this architecture," Evans said. "This project was mainly about our fans. I want to make sure we're providing fan-friendly amenities near the concessions, restrooms, points of sale."
Evans said the project is an integral part of a broad plan to overhaul the basketball program, which has languished at the bottom of the SEC in recent years -- both in the standings and in terms of overall fan interest.
Head coach Mark Fox has helped to rejuvenate the on-court product, helping Georgia to wins over top-25 opponents Georgia Tech and Tennessee already this season, but Evans said the onus for rekindling enthusiasm in the team can't stop there.
"It's a big part of our continuous goal of building Georgia basketball," Evans said. "But it helps out with the men and women and our gymnastics program as well. It's all part of that plan. I want to make sure we're doing the things that are necessary to show our fans and our student-athletes and all those that support us that we're committed to this program."