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Not demolished, it’s a supermarket since about 1950. Once a Food Fair, now the South Square Market.
The Eric Rittenhouse was among several buildings on Walnut St demolished not long after the fire. What are proposed for demolition now are three buildings behind these on Sansom St (which face the rear of the Boyd). The Philadelphia Parking Authority’s grand vision (NOT!) is of a combined 500 car garage and cinema. That’s not to say they’ve actually signed a lease with the Ritz for the proposed complex.
To Iweigard’s comment, no, very fortunately the owners never did split the auditorium – it is intact. The other three screens are in an addition to the building. The layout of the original structure is in an L shape, so from outside you don’t really imagine how huge the interior is.