UPDATE: Publican Brendan Tracey has already been organising insurance and repairs at Sodens.
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A heritage listing notes the property is the "last remaining building of its type in Albury", which Mr Tracey said would increase costs.
"There will have to be new castings made and copies made - it will have to go back to the original look," he said.
New glass, pressed metal ceilings and cast iron posts will need to be made, walls rendered, and painting undertaken.
"But it will be back looking better than new," Mr Tracey said.
It's hoped the awning will be pulled down by weekend, which will involve the use of a crane and road closures, ahead of a likely rebuild in February.
While functions can't be held in the front room due to the risk of beams falling down, Mr Tracey said the pub would remain open.
"It's business as usual."
NSW Police said the man, 24, allegedly crashed his car into the licensed premises and fled the scene in a taxi.
The man was arrested at Albury Police Station about 10.45pm on Saturday and charged with being an unlicensed driver, negligent driving not occasioning grievous bodily harm and not giving particulars to owner of damaged property.
IN OTHER NEWS:
The man was granted conditional bail to appear in Albury Local Court on December 21.
Three load bearing poles were damaged as a result of the crash, causing the balcony to collapse and more than $200,000 worth of damage.
Police were called to the scene at 3.15am Albury, following reports a grey Ford Fortura had crashed into poles supporting the balcony.
