FOR IMMEDIATE RELEASE
October 31, 2025
Mayor Mantello Announces Advancement of Lease for New, Permanent Home of Troy City Hall at Proctor’s Theatre
City Council to Take Final Vote November 4th
(TROY, NY) - Mayor Carmella R. Mantello today announced the formal submission to the Troy City Council of the proposed lease agreement for the new permanent home of Troy City Hall at the historic former Proctor’s Theatre building in downtown Troy.
Under the proposed lease, the City of Troy would make a fixed annual payment of $675,000 to the Troy Local Development Corporation (TLDC) for a 30-year term. This fixed rate provides long-term financial stability for taxpayers compared to the current City Hall lease at 433 River Street (5th Floor), which includes an annual 3% escalation in rent and maintenance costs.
If the City were to remain on the 5th Floor at 433 River Street, costs to taxpayers would increase to nearly $1 million in the next decade. On day one of operations at the new City Hall at Proctor’s Theatre, Troy would save over $100,000 annually compared to current
costs.
YEAR | Current City Floor at 433 River Street (includes base rent, CAM charges, PILOT contribution, utility contribution) | New Permanent City Hall at Proctor’s (includes base rent, no longer obligated to pay CAM, PILOT, shared utility) | ANNUAL COST SAVINGS |
2027 | $787,378 | $675,000 | $112,378 |
2033 | $888,105 | $675,000 | $213,105 |
2043 | $1,097,811 | $675,000 | $422,811 |
2048 | $1,226,650 | $675,000 | $551,650 |
2056 | $1,474,280 | $675,000 | $799,280 |
“The submission of this proposed lease marks a major milestone in our effort to provide Troy with a permanent City Hall that preserves our history, improves accessibility for residents, and saves taxpayers significant money,” said Mayor Carmella R. Mantello. “This project at the former Proctor’s Theatre represents smart government, responsible spending, and community pride. I look forward to the City Council’s review and hopeful approval so we can move forward with this transformative project.”
The anticipated vote by the City Council represents the final major hurdle before the relocation to the new City Hall at Proctor’s Theatre becomes a full “go.” Once approved by both the Council and the TLDC Board, the TLDC will move forward with bonding for the property acquisition, construction, and related costs. The City Council will act upon the proposed lease at next Thursday’s Council Meeting on November 6th.
“The Troy LDC’s mission is to financially assist with acquisition, construction and renovating sites within the city that provide economic development opportunities for public benefit,” said Seamus Donnelly, Executive Director of the Troy Local Development Corporation. This project fits squarely within in our mission. Utilizing the Troy LDC, which is an economic development arm of the city, is the most efficient and effective way to deliver a permanent home for City Hall. This project will send a ripple effect through the 4th Street business corridor and surrounding businesses that will reinvigorate pride in our community,” Donnelly continued.
Since selecting Columbia Development’s proposal for the former Proctor’s Theatre site last year, the Mantello Administration has hosted numerous public engagement sessions and public tours of the historic space. Feedback from residents and city staff has helped shape the design process, ensuring the new City Hall meets the community’s needs while respecting the building’s heritage.
The State Historic Preservation Office (SHPO) has praised the redevelopment as a model for revitalizing historic spaces. The new City Hall will feature:
- All front-facing public services conveniently located on the first floor for residents and taxpayers. Remaining City Hall offices will occupy floors 2, 3, 4, and 5.
- A larger public assembly hall and community meeting spaces for civic engagement.
- Dedicated parking through the city-owned William Street Alley garage and future on-street accessible and handicap parking on Fourth Street.
- A design that highlights the rich architectural and cultural history of Troy.
The Guaranteed Maximum Price (GMP) construction agreement will be finalized following lease approval, with construction expected to begin by late 2025. The city anticipates occupying the new facility by January 1, 2027. The agreement also includes terms ensuring Troy does not pay double rent in the event of any construction delays, though none are anticipated.
“This project is about creating a City Hall that reflects who we are as a community - historic, resilient, and forward-looking,” said Mantello. “The former Proctor’s Theatre gives us that opportunity - to preserve a piece of Troy’s past while securing a stronger future for our city government and taxpayers.”
For more information about the city’s move to Proctor’s Theatre, visit: TroyNY.gov/ProctorsTheatre.
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