According to a recent article published in the New York Times, Alamo Drafthouse Cinema is no longer planning to reopen the Metro Theater in New York City:

Hopes for a hip, new revival-style movie center at the site of a long-dormant theater on Manhattan’s Upper West Side took a significant step backwards with the announcement that the Alamo Drafthouse Cinema chain was canceling plans to open a location there.

Alamo Drafthouse Cinema, the chain founded in Austin, Tex., that operates the annual Fantastic Fest, had said in April 2012 that it was going to open a new Manhattan location at 2626 Broadway, the site of the Metro Theater. The company’s plans at the time called for a five-screen theater, food and drink service at moviegoers’ seats and, presumably, the strict enforcement of its no-talking, no-texting policy.

But in a post on its Web site, the company said that “too much has changed since we initially began work on the location.”

The post continued: “Construction costs have risen tremendously since engaging in the project back in early 2012 (due in some measure to ongoing Hurricane Sandy reconstruction efforts) and ultimately the location is no longer financially viable for us. We would love to make the Upper West Side location our next neighborhood theater in New York, but we cannot see this particular location as sustainable under current conditions.”

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The company currently operates the Alamo Drafthouse Cinema - Yonkers, which opened in 2013.

The historic 1933 movie theater was last in operation in 2005.