“Changing Skyline: iPic didn’t come, so now what for the Boyd?” From Philadelphia, PA.
All anyone had to do was say the word multiplex and the Boyd Theatre’s fair-weather friends abandoned the grand dame of Philadelphia movie palaces as if the place was on fire. Demolition of the art deco auditorium was sanctioned by the Historical Commission in March, and within days, wrecking crews were on the scene, supposedly for the Florida chain iPic.
Now we know it was all magical thinking.
Neil Rodin, the developer who said he was bringing iPic to Philadelphia, never followed through on his much-ballyhooed plan to buy the Boyd from its longtime owner, Live Nation. Meanwhile, iPic has problems of its own and lost its financing for the project, according to a source involved with the company. In late October, Live Nation quietly sold the theater at 19th and Chestnut to Jim Pearlstein and Reed Slogoff of Pearl Properties for $4.5 million.
Read the entire article at philly.com
Image courtesy CT member Porcelain Doll.