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ALBANY, NY-Columbia Development Cos. of Albany is purchasing the dilapidated Proctor’s Theater on the Fourth Street and the adjacent Chasan office building in downtown Troy from Rensselaer Polytechnic Institute. The company will move forward with its $14.4-million redevelopment plan for both properties.

Columbia Development plans to lese nearly 25,000 square feet of space in the front part of the structure to office tenants. At first, the company will convert the Chasan building into modern office space to accommodate Rensselaer’s Institute Advancement team. For the full story, go to The Business Review .

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