The former Boyd Theater revitalization project is approved by the City of Bethlehem, bringing back life to a significant Lehigh Valley landmark and a boost of development to the city.
DLP Capital, a private real estate investment and financial services company, in partnership with local developer Rocco Ayvazov of Monocacy General Contracting, will begin work on the project in mid-November.
Plans for the former movie theater include turning it into a 6-story apartment building with an underground parking garage. Additional amenities will include a pool, fitness center, and an outdoor private theater for residents. The ground floor will have additional commercial space for retail.
“We think this is a great opportunity to help a city rejuvenate a local landmark right in our own backyard,” said Don Wenner, CEO and Founder of DLP Capital. “Ultimately, this fits right into DLP’s mission, and we’re proud to be leading the way toward making this historic theatre a welcome sight again, while providing housing opportunities for working families in the Bethlehem community.”
“We are proud to be working together with DLP Capital to bring this amazing property back to life,” said Azvazov. “This is a great opportunity to build something that people will cherish as they look to the past, while knowing this new development will be in the community for many years.”
The team will also preserve part of the Boyd’s rich history by incorporating elements of the old theater, including the original Boyd sign, into the newly developed property. Additionally, the team is donating many original items to local theater owners.
Architectural firm SITIO has provided plans, DLP Capital is financing the project, and completion is projected for Q2 of 2023.