The construction of the theater began under Austrian rule and was completed in 1868. Born from the idea that the old Concordia Theater, in Contrada Borghetto (now Via Teatro Vecchio) could not satisfy the requests, it was built thanks to the architect's projects Andrea Scala from Udine. It was inaugurated on 5 September 1869; for the occasion, Il Conte Ory by Gioachino Rossini was represented.
The theater is a typical neoclassical architecture, whose large façade dominates Piazza Cima from a staircase, flanked by two characteristic stone sphinxes. The portal is accessed through a portico, in the central part projecting towards the square. Four simple pediments, two on the side wings and two superimposed in the central body, are the decorations of the upper part. Statues, also of neoclassical imprint, adorn the loggia and some windows. Renovated several times since 1937, it annually hosts numerous live shows, with a wider presence of music and dance, alongside the prose season which has taken on remarkable results in recent years.