College officials announced yesterday that they are negotiating a three year lease with Citi Performing Arts Center that would result in occupancy of the Colonial Theatre in July 2012.

“We are very excited about entering into a new partnership with the Citi Center that will usher in the next chapter of this historic theater’s history,” said Emerson College President M. Lee Pelton in a press release. “This is good news for the performing arts community and Boston’s theatergoers.

Emerson College, owner of the Colonial, shut the doors of Boston’s oldest operating theatre in July after failed negotiations to renew a lease with long time tenant Broadway Across America-Boston.

According to the organizations website, Citi Performing Arts Center is a non profit performing arts institution that offers opera, theatre, classical and popular music, one-night engagements, international sporting events, and Broadway musicals in its venues. Josiah A. Spaulding, President and CEO Citi Performing Arts Center, said in a press statement that Broadway Across America will be the center’s new booking partner.

“With Broadway Across America, we will be able to provide even more quality programming to Boston residents and visitors, Spaulding said. We believe that this collaboration will benefit both the Colonial and Shubert Theatres, as well as the entire Theatre District.

Rich Jaffe, vice president of Broadway Across America in Boston, said the company is excited to continue to provide Boston with new shows and programming.

“Broadway Across America is looking forward to working with Citi Performing Arts Center and Emerson College to make sure the Colonial Theatre continues to flourish and serve the community,” Jaffe said.