Take a sneak peek at Hawks arena's multimillion-dollar redesign

The Hawks and the city of Atlanta are pouring almost $200 million into a renovation of Philips Arena.

As part of Tuesday's deal, the Hawks agreed to an 18-year lease extension to remain at the city-owned arena through 2046.

The renovation, which is expected to be completed by the 2018-19 season, will most noticeably alter the look of the luxury boxes stacked on one side of the arena. There will be new amenities, improved sightlines, state-of-the-art video and connected concourses throughout the 17-year-old facility.

Here's a sneak peek at what the new and improved Hawks' home will look like:

Atlanta also is getting the new $1.4 billion Mercedes-Benz Stadium, a retractable-roof facility set to open next year as home to the NFL's Falcons and a Major League Soccer expansion team, Atlanta United.

The Associated Press contributed to this report.