ALBANY, N.Y. (NEWS10) – Palace Theatre and city officials announced a new $65 million renovation and expansion project Wednesday.
The project would expand the Palace Theater’s footprint along North Pearl Street by creating new facilities including a new 600-seat theater, a community and education space, and a video post-production center.
Renovations will also be done on the main theater, lobby, box office, and backstage areas.
Palace theatre Executive Director Holly Brown says the project will be truly transformative for both the theater and the community.
“It’s really about building something that is sustainable, and is meaningful, for the long term,’ said Brown. “And can really, as I mentioned several times today, support the work of our local associations.”
The project is anticipated to have a $125 million economic impact on the area, and create 225 full-time jobs during the three-year construction period.
A timeline for completion is expected by the end of this summer.