March 14, 2015 – Pearl Properties Begins Demolition of Boyd’s Auditorium. Some of Boyd to be Kept.

In late October, 2014, Pearl Properties purchased the Boyd from Live Nation for $4.5 million, the same amount Friends of the Boyd offered earlier in the year. Developer Neal Rodin did not purchase the Boyd for redevelopment by iPiC Theaters.

Pearl Properties informed our allies the Preservation Alliance for Greater Philadelphia that rather than keep only the Chestnut Street facade and small Ticket Lobby, the Grand Lobby and the Foyer that runs from the lobby to Sansom Street will also be kept.

Pearl informed us they would honor our Settlement Agreement and had retrieved the original Art Deco artifacts from the auditorium that were listed in the Agreement.

Demolition of the Boyd’s auditorium (except for the Foyer at its rear) began Saturday March 14, 2015, exactly one year after the Philadelphia Historical Commission granted permission. The reuse of the surviving and demolished sections has not been announced, but Pearl last year proposed a 26 story tower adjoining the Boyd at 1900 Chestnut. It is with the acquisition of the Boyd that zoning permission for such a tower will be in place.