Closing of Forum Theater prompts developer to imagine change
At the end of November, the Forum Theater-an old porn theater made obsolete by virtue of videos and the Internet-became one of the last of its kind to die. In the wake of its closing, though, are plans to renew the property that serves as a key link between Philadelphia’s east and West sides.
Richard Basciano, real estate developer and the Forum building’s owner, has reportedly come up with the idea of reviving the area with new apartments and street-level commercial space. Never a fan of the porn business, the 87-year-old man has sold most of his holdings in that industry, and hopes to make the best of the Forum building’s closing by reviving the area.