Redevelopment
In 2000, the Singapore Tourism Board took over the two buildings to explore alternative uses for it, but plans to turn it into a home for an arts group was languished and the cost of refurbishment was exorbitant and was commercially unfeasible.[29][30]
On 3 April 2008, plans of redeveloping the Capitol Theatre, Capitol Building, Capitol Centre and Stamford House as a single integrated site was first publicised in a news report carried by The Straits Times.[31] By redeveloping the 4 developments as one, it would allow for the Theatre to run as a "loss leader" among the other 3 commercial developments.[30] The 4 adjoining developments had a total area of about 1.45 ha with a total of 250 tenants, including offices and retail outlets.[31] With most of the tenants moving out by May 2009, Singapore Land Authority would inform the tenants of the need to move when details of the development of the site had been finalised.[31] Other than the Capitol Centre, the other three buildings were gazetted for conservation on 16 July 2007,[32] meaning that these buildings' facades must be maintained.[31]
In November 2011, Shimizu Corporation was awarded the redevelopment project to develop into a large scale mixed use complex called "Capitol Development". With Grant Associates working closely with the project's lead architect, Richard Meir and Partners Architects, the project consists of Singapore's largest cinema cum theatre complex, 6 stars luxury hotel & retail shops, with an approximate Gross Floor Area (GFA) of 21000 m2,[33] and on the site of the former Capital Centre, a shopping mall, Capitol Piazza and residential tower, Eden Residences Capitol, with an approximate GFA of 29000 m2.[34][33] As it was common to jaywalk on the roads between the St Andrew's Cathedral and the Capitol Centre prior to the redevelopment, the new development was connected to the nearby City Hall MRT station via an underpass stretching towards the Capitol Piazza.[34]
Having been left vacant for more than 10 years, the Theatre was infested with rats, its plaster was falling, ornaments were missing, and water had seeped into its floors.[30][35] During the restoration process, original design details were uncovered such as "the gilding on the plaster mouldings, and the fine features of the two ‘Pegasus’ reliefs" that were painted over multiple times.[36] Additionally, the original Persian Zodiac ceiling mural was not salvageable, so was recreated instead.[36][35] The original fly tower was taken down, and a whole new basement was excavated as well, while having to maintain the structural integrity of the building and the surrounding building.[30]
New technology was incorporated into the Theatre to modernise it. An automated, rotational seating system was installed, allowing the Theatre to turn into a multi-functional venue to accommodate a large variety of events.[30][35] The system would allow for up to 800 seats with 452 seats transformable.[37] Additionally, half of the season would be used by Golden Village (GV) to screen movie blockbuster premieres, and it had also installed servers and projectors in the venue, allowing the venue to host red carpet events as well.[30] The other half of the season would be dedicated to local performing arts groups.[38]
Reopening
The redevelopment of the Capitol Singapore complex had since completed and its topping out ceremony was held on 3 April 2014.[39] The Capitol Theatre was reopened on 19 May 2015 after the 17 years hiatus with the world premiere of Singapura: The Musical.[40]