FOR IMMEDIATE RELEASE
December 23, 2025
Mayor Mantello Announces Closing on Former Proctor’s Theatre Property for Future Home of Troy City Hall
Renovations Have Begun, Starting with New Assembly Hall
(TROY, NY) - Mayor Carmella R. Mantello today announced that the City of Troy has officially closed on the former Proctors Theatre property, marking a major milestone in the plan to relocate Troy City Hall to the historic downtown landmark. The Troy Local Development Corporation (TLDC), an economic purchasing arm of the city, took control of the deed to the former Proctor’s Theatre property last week, culminating more than 18 months of work by Mayor Mantello, Deputy Mayor Seamus Donnelly, TLDC members, the City’s Corporation Counsel, and numerous City Hall staff.
With the closing complete, preparations for construction of the future City Hall Assembly Chamber are set to begin within the next couple of weeks. Initial preparations have begun by removing select seating in the former theatre space to allow for the installation of a modern “box-in-a-box” structure that will house the new assembly chamber. Any seating currently marked off with construction tape will be carefully preserved and will not be permanently removed.
“This is a proud and exciting moment for the City of Troy,” said Mayor Carmella R. Mantello. “After a year and a half of focused effort and collaboration, we are officially moving forward with a project that saves taxpayers money, preserves one of our most iconic historic buildings, improves ADA accessibility, parking, deliverance of city services, and brings City Hall back to the heart of downtown. This move represents smart fiscal management and a renewed commitment to our city’s future.”
The guaranteed maximum price for construction and renovations will not exceed $10.6 million, coming in nearly $1 million less than the city originally anticipated. Under the agreement, in 2027, the city will make a payment of $669,000 to the Troy Local Development Corporation – more than $100,000 less per year than what the city currently pays at its existing City Floor and will not exceed $673,000. A recent bonding call that confirmed the city’s Standard and Poor’s (S & P) rating remains exceptionally strong, contributed to the finalization of the agreement that solidified the drastically reduced annual payment by the city to the TLDC.
Over the next 30 years, relocating City Hall to the former Proctors Theatre is expected to save Troy residents and taxpayers more than $6 million, while simultaneously revitalizing a historic structure and strengthening downtown Troy as the civic and cultural heart of the city. Additionally, at the end of the 30 years, the TLDC will have paid off all bonding obligations.
Deputy Mayor, and Executive Director of the TLDC Seamus Donnelly emphasized the long-term impact of the project. “This is a win on every level,” said Deputy Mayor Donnelly. “Through diligent price negotiation, we secured a lower-than-expected construction cost, reduced the City’s annual payment, and delivered significant long-term savings for taxpayers. Just as importantly, we are breathing new life into a historic building and reinforcing downtown Troy as a place of pride, purpose, and progress.”
Mayor Mantello noted that additional updates will be shared as renovations move forward and construction milestones are reached.
“This project is about honoring Troy’s past while building a stronger, more fiscally responsible future,” Mayor Mantello added. “We are proud to take this next step for our residents, our downtown, and our great city.”
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