Thursday, February 27, 2014

Update on the Boyd Theater

There appears to be a solution to the Boyd Theater economic hardship question that we discussed here   several weeks ago. An anonymous donor has pledged $4.5 million for the purchase of the theater. While the application of the developer still is pending before the Philadelphia Historic Zoning Commission, since economic hardship regulations usually include the inability to sell the structure for a reasonable price, and since the price offered by the anonymous donor matches the price which the developer was willing to accept, it would seem difficult at this point to contend that there is still an economic hardship.

Of course, there is still a broader issue as to whether or not the theater can be rehabilitated and where the money for such rehabilitation might be coming from. But it was certainly a grand theater and if rehabilitation is at all possible, it would certainly seem as though an attempt is worth the effort.

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