Originally built as a movie theater, it currently (as of 2006) exhibits live stage productions as the home of the GALA Hispanic Theatre.

In addition to the main theater auditorium, the building contained offices on the upper floors and several two-story shops along the 14th Street and Park Road frontages.

In the quarter century it has lain vacant, the building has suffered from neglect, extensive vandalism, and severe water damage due to a leaking roof.

In a brief 24-hour period spanning January 27–28, 1922, a massive storm dropped 26 inches of snow on the city, causing the fragile roof of the Knickerbocker to collapse.

In his place, Crandall appointed the reputable young Thomas Lamb from New York as architect for all of his subsequent designs, including the Ambassador, built from the remains of the Knickerbocker, and the Tivoli.

Incorporating a new understanding of structural integrity which followed in the wake of the disaster, Lamb designed the Tivoli as three separate bodies-stage, auditorium, and perimeter.

The cross-section of the exterior reveals the wooden brackets and tin soffits under the eaves of the tile roof, masterful detail easily overlooked given the current condition of the building.