If you were hoping to catch a flick at a brand new theater at One Monument Square in Troy I hate to burst your bubble, but it doesn't look like that's going to be a possibility anytime soon.

For Sale Marquee Sign
Anthony Hall/Thinkstock/TMS

Back in March we told you about how Bow Tie Cinemas were planning on redeveloping the empty lot at One Monument Square in Troy. Well, since then there have been a few unexpected developments in the project.

At first it seemed like most of the public was cool with having a theater in downtown Troy but after Bow Tie released some mock ups of the theaters design a lot of people weren't to keen on the fact that the building not only largely blocked the view of the river but that the wall in the building that faces the river would be windowless because you know, it would probably be large movie screens.

Then a neighboring property owner decided to file a lawsuit siting the project would do "irreparable harm" because of traffic and parking issues. It also argued a full environmental review would be necessary before the project could continue.

Now, according to All Over Albany, the mayor of Troy's administration has released a statement stating:

As a result of multiple and ongoing legal actions brought by a neighboring property owner against the City of Troy, Bow Tie Cinemas has notified the city of their decision to terminate the development agreement for the One Monument Square site. We are deeply disappointed with this lost opportunity to construct a world-class cinema in the Collar City.

So maybe 5th time is the charm? Seeing as though this was the 4th attempt to put something on that site since the old city hall was demolished in 2011. What would you like to see built in that spot, if anything?