The "Nuova Fenice" Theatre was built in the same place as the older theatre and designed by the architect Cosimo Morelli between 1773 and 1787. The theatre has a bell-shaped plan and four orders of theater boxes, characterized by balcony balustrades. The art decorative work was made by Vincenzo Mazza, Giovanni Battista Brunelli and Melchiorre Jelli. The theatre was unfit for use in 1881, demolished in 1885, and rebuilt. The new architectural structure was made by the architect Gaetano Canedi between 1887 and 1892, while the room decorations was created by Giovanni Diana, Fernando Torchi and Alfonso Goldini. The neo-Renaissance frontside has two orders of double, Tuscan and Ionic pilasters with arched openings. The entrance is decorated with geometric patterns, while the concert hall has a horseshoe plan, characterized by high level basement.

The theatre has three orders of dais, and the gallery is above it. A series of small-cast-iron pilasters which goes from the balustrade to the gallery support the ceiling. The painted decorations on the balustrades, on the gallery and ceiling were made by Giovanni Diana and Ferdinando Torchi. The curtain is by the set designer Alfonso Goldini.