Governor Hochul Announces Grand Opening of Capital Region Music Hub at Troy Savings Bank Music Hall

Governor Kathy Hochul today announced the completion of the Troy Savings Bank Music Hall's new Capital Region Music Hub after a $15 million expansion and renovation project, part of the Department of State's Downtown Revitalization Initiative (DRI). The transformational project includes new flexible use space; rehearsal and event space; an education classroom; and updated HVAC, breathing new life into the 150-year-old Troy Savings Bank Music Hall and turning it into a year-round, multipurpose venue. The project was supported by $6.5 million from the New York State Council on the Arts (NYSCA) and Empire State Development (ESD), including $1.5 million through the DRI.

"New York's arts and cultural sector is a critical part of our economic prosperity and global leadership," Governor Hochul said. "Through our investments in capital projects like these, we are promoting cultural and economic growth in communities across New York. And, with the completion of this project, Troy Savings Bank Music Hall will continue to attract audiences, spark growth and strengthen the region for generations to come."

The Capital Region Music Hub is a new multipurpose cultural community space and musical lab on the building's second floor that will serve as a home for music, education, community gatherings, innovative performances and cultural collaborations at the famed Troy Savings Bank building. Comprising an expansion into newly acquired space and renovations to the landmark venue, the project increases accessibility and expands the Music Hall's programming season with acoustically sensitive HVAC upgrades - including floor vents designed to aesthetically blend with the carpeting. The project marks the first significant interior renovation to the property in more than 20 years.

New York State Council on the Arts Executive Director Erika Mallin said, "This project was so much more than expanding and restoring a beautiful historic space. Now, with the Capital Region Music Hub, Troy Savings Bank Music Hall is equipped to serve the region for another 150 years with inspiring performances, greater accessibility, and year-round programming to residents and visitors alike."

Empire State Development President, CEO and Commissioner Hope Knight said, "Projects that support and grow in the creative economy - especially in our urban cores - help to sustain local businesses by engaging residents and visitors alike. The new Capital Region Music Hub, coupled with the Troy Savings Bank Music Hall upgrades, will provide even more entertainment and culture opportunities and spur new investments in the Collar City."

New York Secretary of State Walter T. Mosley said, "Troy Savings Bank Music Hall has been a fixture in the Capital Region for decades and this expansion will dramatically enhance its musical contributions for all music lovers, teachers and students. A successful Downtown Revitalization Initiative plan builds upon its unique and historic spaces and that's just what the City of Troy is doing. Congratulations on this expansion and I want to thank Governor Hochul for continued commitment to the Downtown Revitalization Initiative."

Troy Savings Bank Music Hall Executive Director Jon Elbaum said, "This project is the culmination of years of hard work between our incredible architecture, construction, and consulting teams, as well as our local elected officials, partner organizations and our staff and volunteers."

The Troy Savings Bank Music Hall, a National Historic Landmark, has been in use since opening in 1875. World renowned for its incredible acoustics, it has hosted performances by legions of world-renowned artists, from legends like Dizzy Gillespie, Ella Fitzgerald, Isaac Stern, Yo-Yo Ma and Vladimir Horowitz, to the best on today's music scene, including Boz Scaggs, India Arie, Lake Street Dive and Trey Anastasio.

Assemblymember John T. McDonald III, RPh, said, "As we celebrate the grand opening of the Capital Region Music Hub, we are not only honoring the rich history of the Troy Savings Bank Music Hall, but also investing in its future. This project ensures that generations to come will have access to arts, education and community space right here in the Capital Region. I am proud to have helped coordinate and deliver state funding allocations for this historic project."

City of Troy Mayor Carmella R. Mantello said, "The completion of the Capital Region Music Hub marks an exciting new chapter for the historic Troy Savings Bank Music Hall and for the City of Troy. This investment combined with my administration's $1 million dollar ARPA allocation - not only preserves one of our community's most treasured cultural landmarks, but also expands opportunities for education, collaboration and year-round performances that will benefit residents and visitors alike. We thank Governor Hochul and our state partners for recognizing the importance of the arts as a driver of economic growth, tourism, and community vitality in Troy."

In addition to the Capital Region Music Hub project, the following DRI projects are also being funded by the DRI in Troy:

• Extend the Marina North Riverwalk: Extend the Riverwalk Trail by a quarter mile (to Jay St.) and alongside the Hoosick Street Bridge. The Riverwalk Marina North project will provide improved bicycle and pedestrian connections to the North Central and Lansingburgh neighborhoods, extending a trail that will ultimately extend seven miles.
• Complete the First Phase of Taylor Apartments Redevelopment: Develop approximately 141 units of permanently affordable apartments and mixed use and community space at 125 River St. at part of the Revitalize Riverside project.
• Transform the Congress Street Gateway into Downtown Troy: Remove bridge off-ramps and reconstruct the intersection of the bridge and River St to create a throughway that better connects the Core Downtown with South Central and South Troy. With the reorientation of the bridge, additional developable space will be available for future housing development.
• Expand the Troy Public Library's Year-Round Capacity: Add a rooftop mounted mechanical HVAC unit, replace distribution piping, and update interior systems to provide better air quality and cold air in the summer months at 100 Second Street, enabling broader summer programming.
• Restore the American Theatre into a Multi-Purpose Arts Venue: Transform the vacant 1920s-era theater at 285-289 River Street into a cinema, arts and live music venue hosting 200 events annually. The refurbished theater will bring an estimated 30,000 people to downtown while expanding the cultural and entertainment options in the area.
• Improve the Visitor Experience at the Historic Hart Cluett Museum: Replace the HVAC system to protect the museum's collection and enhance use of the outdoor deck to allow for expansion of museum offerings. This project will ensure the cultural heritage of Troy and Rensselaer County are preserved for future generations.
• Connect Downtown through Murals and Public Art: Revitalize public spaces with public art to build pride and investment and welcome visitors. This project will create multiple public art installations at six locations across the downtown, creating new experiences for the public to engage with Troy.
• Implement Downtown and Riverwalk Wayfinding and Branding: Implement the City's plan for branding and activation media. Investing in branding and wayfinding ensures the strategic investments made downtown are visible to a broad audience and maximize their economic impact.
• Create New Public Outdoor Space at the CEO Community Resource Center: Build a safe outdoor area for community events and services including a covered public pavilion and restroom at 2350 Fifth Avenue. This project will further enhance the newly expanded CEO Community Resource Center, which provides childcare and other family support services to the community.
• Restore the Historic Cannon Building: Restore the exterior of the oldest building on Monument Square at 5 Broadway. Primary revitalization benefits include improved pedestrian mobility on revamped sidewalks and the visual impact of façade improvements on the broader downtown.

The City of Troy was named the Capital Region's Downtown Revitalization Initiative winner for the fifth round in 2022. Other DRI winners in the region include Glens Falls, Hudson, Albany, Schenectady, Tannersville, Cohoes, Lake George, Catskill and Rensselaer.

Find more information on Troy Savings Bank Music Hall and the new Capital Region Music Hub.

About the Downtown Revitalization Initiative
The Downtown Revitalization Initiative was launched in 2016 to accelerate and bolster the revitalization of downtowns and neighborhoods in all ten regions of the state to serve as centers of activity and catalysts for increased local investments. Led by the Department of State (DOS), DRI communities benefit from partnerships with and coordinated technical assistance provided by the Department of Housing and Community Renewal (HCR), Empire State Development (ESD) and the New York State Energy Research & Development Authority (NYSERDA). The DRI represents an unprecedented and innovative "plan-then-act" strategy that couples strategic planning with immediate and ongoing implementation. Through nine rounds, the DRI will have awarded a total of $1 billion to 99 communities across every region of the State. The Governor has proposed another $100 million for the program in her 2026-2027 Executive Budget.