The construction of the new theatre started after the old building was destroyed by a fire on January 2, 2008, and it was completed about a year and a half later. The opening night in the new building took place on March 5, 2010.
The New Penza Drama Theatre was designed in the late classical style, with elements of the Russian modern style, and crowned with a glass dome. The facade was decorated with natural red Karelian granite. The new theatre has a total area of 16,500 square metres, which is twice as large as the old theatre was. The new theatre has its own hotel with 15 rooms which can hold up to 40 actors.
The grand hall with 1,000 seats has rich acoustics as well as modern light and acoustic equipment, climate control and fire fighting systems. The dome of the grand hall is decorated with a crystal chandelier, surrounded by a picturesque fresco panel created by a famous Penza artist, Anatoly Kosarev. The mechanics of the big stage with a 12 m long circle is totally computerised, which allows creating the most complicated performances. The small hall is designed for 100 seats and is a chamber stage, speaking from the strict classical sense.