Troy Eighteen months hence, a Bow Tie Cinemas complex may be set to open in downtown Cohoes, along Route 9 in Colonie or elsewhere in Albany County. And Troy? It will still have its hole. That's 1 Monument Square, of course, the downtown site where proposals die. The Bow Tie Cinemas plan was perhaps the best one there in the six years since the old City Hall was demolished, and it is kaput now, too. "We just didn't see an end to the lawsuits," Joe Masher, chief operating officer at Bow Tie, said to explain why the company terminated the plan. "I'm devastated.