Chasan Building and Proctors Theatre Master Plan

Chasan Building

Complete renovation of approximately 34,000 square feet, 3 story building, including a new roof, windows, mechanical and electrical systems.

Since 1977, Proctor’s Theater has remained empty, subject to the deleterious influences of time, environment and pigeons. Its massive, nearly half-block long facade, behind which a five-story office area is located, has also remained empty. Likewise, the Chasan Building, located very nearby on the southeast corner of Fourth Street and Broadway, has been empty for some time. The fact is that the deserted appearance of these buildings has had a chilling effect upon the Fourth Street corridor, a segment of Downtown vital to its overall health. The block of Fourth Street, between State Street and Broadway, has remained especially recalcitrant to renewal even in the face of investment that has wholly reinvigorated other areas of Downtown.

The proposed project will reverse the dynamic of disinvestment that has characterized this part of Fourth Street for a generation. Columbia Development Corporation will purchase the Proctor’s Theater Complex and the Chasan Building from Rensselaer Polytechnic Institute, the buildings’ most recent owners, and undertake a redevelopment project of sufficient magnitude to change the character of Fourth Street and catalyze additional development. Specifically, the $20+ million project, partially funded under Empire State Development Corporation Restore III monies, will:

Rehabilitate the (approx. 30,000 ft2) three-story Greek Revival Chasan Building for retail and office space and restore its facade.
Rehabilitate the (approx. 30,000 ft2) five-story Proctor’s office building for retail and office space.
Restore and preserve Proctor’s visually and historically important facade.
Undertake stabilization/environmental remediation measures and evaluate the future use of the (approx. 65,000 ft2) dilapidated Proctor’s auditorium and stage house. Use of the Proctor’s Auditorium and Stagehouse for its original purposes or some forms of adaptive reuse continues to be evaluated.
Successful development of the proposed project requires careful consideration of existing market conditions and the means by which the individual project elements can create incremental, but nonetheless substantive, positive impacts upon the Fourth Street corridor. This calculus emphasizes the immediate initiation of the Chasan Building restoration as the first phase — a project element for which tenancy is most immediately realizable and that will yield positive visual impacts along both Fourth Street and Broadway. The renovation of the Proctors Office building and restoration of the façade forms the second project phase. This phase involves rehabilitation efforts that are technically complex and will yield an atypically configured space for which tenant recruitment will be more demanding and will require focused marketing. The future use of the existing Proctors Auditorium and Stagehouse remains the greatest project challenge and, utilizing the principle of moving the project forward in a continual and practicable manner, requires that this element form the last phase of the project

Simply stated, the overall project will have a transformative impact upon the City of Troy. That transformation will be wrought through the significant size of the investment, through the infusion of human and economic activity into the part of Downtown that needs it most and through the redefined aesthete of an attractive and welcoming Fourth Street corridor.

As significant as the private sector investment and economic infusion related to the project are, it will be the symbolically and visually transformative “Lazaurus effect” of animating a formerly lifeless streetscape that will yield the greatest positive impact upon Downtown Troy.
Downtowns thrive on people — their energy and their spending. The Proctor’s Theater Redevelopment Project will immediately bring many hundreds of additional people into the downtown. The new retail space will generate spending and the new employees will impart greater vibrancy to Downtown.
The project will enable the City of Troy to more fully utilize perhaps its most important physical asset — its historic architecture. Fourth Street, in and around Proctor’s Theater, has been neglected for far too long. Accordingly, the elements of this project are collectively focused restoring this block and making the whole of the Downtown beautiful.

Master Plan
Negative Declaration

Questions or comments regarding this project may be addressed to the Planning Department by calling
(518) 279-7166.