Way back in January of 2011 word came that one of the five storied "Wonder Theaters" of New York was going to reopen in 2013. Well, the refurbishing of the Loew's Kings Theater in Flatbush didn't quite make that date. But it is really, truly going to get to return to the glory it deserves! Today Mayor Bloomberg and Brooklyn mascot Marty Markowitz proudly attended a ceremonial groundbreaking in the once-glamorous movie palace. The old girl has been closed since 1977.

Originally constructed in 1929, the 3,200-seat Loew’s Kings Theatre is, according to the city, the largest indoor theater in Brooklyn. Designed with the Palace of Versailles and the grand Paris Opera House in mind it features ornate architectural details in the French Renaissance Style and is quite the show stopper. Plus, it is chock full of Brooklyn history: Barbara Streisand and Sylvester Stallone both worked as ushers there back in the day!

So what is happening now? A company called ACE Theatrical, which has been trying to revamp the space for the last three years, has secured funding for a $93 million renovation to bring the space to its former glory. They're going to be fixing up everything from the grand staircase to the joint's seven giant chandeliers and hope to have it back up and running by late 2014/early 2015. Just don't expect any IMAX flicks to show here! ACE will be adding a four-story stagehouse to the back to the theater to allow it to host more than 200 concerts, dance performances, musicals and comedy shows a year.

"Once the largest and grandest indoor venue in Brooklyn, Loew’s Kings Theatre was a major attraction for hundreds of thousands of New Yorkers and countless visitors," Mayor Bloomberg said today. "Soon it will be again. This massive restoration project will be great for the Flatbush community, for Brooklyn’s booming cultural scene, for local artists and cultural groups, and for New York City."

We. Can't. Wait. Now, what about the other Loew's Palaces?