Philadelphia Industrial Development Corp.
The Philadelphia Industrial Development Corp. (“PIDC”) and the City of Philadelphia were working with a developer interested in renovating the historic Boyd Theatre in Center City as an entertainment and meeting venue to support a proposed hotel on an adjacent site. Our client hired RESGroup to analyze the proposed use and alternative uses, to identify the most marketable approach to the restoration, the impact on existing cultural and entertainment institutions, and potential advantages and disadvantages of the proposed plan. Existing venues were interviewed that offer music, theatre, comedy, dance, film and interdisciplinary venues to understand the current market demand and untapped potential, identify potential uses for the Boyd and success factors that must be addressed for a viable project. Case studies were completed of similar, renovated historic theatres to provide the client with insight into their experiences, types of uses and funding sources/challenges.