Troy

The $17 million to $18 million movie theater complex proposed for 1 Monument Square will bring 10,000 people to downtown every week, the developers said Wednesday night.

The 1,300 electric reclining seats, restaurant and bar will provide a luxurious film-going experience in the nine theaters at the former City Hall site and one down the street at the renovated American Theater, said Joseph Masher, chief operating officer of Bow Tie Cinemas.

"The time is right. I really want to be in the city of Troy," Masher told the City Council.

"It's going to be the only luxury theaters in the Capital District," said Masher, who grew up in Troy.

The movie theater project will help the city achieve its goal of having an active 18-hour downtown, said Steven Strichman, the city commissioner of planning and community development.

Bonacio Construction is building the theater project for Bow Tie Cinemas, which will own the theater building.

The city will be paid $600,000 to sell the property.

The plans were outlined to the City Council by Christiano Pereira of CPAArchitecture. There will be public parking for 112 vehicles, 12 motorcycles and 100 bicycles.

The goal is to receive city approval and open the theaters by the 2018 holiday season.