The Boyd Theatre has apparently been saved from a fate worse than a box-office bomb, that of the wrecking ball.

J.G. Petrucci, a Asbury, N.J., based design-built firm with an office in Bethlehem and projects in the Lehigh Valley, has purchased the downtown Bethlehem movie theater for an undisclosed price.

The purchase may expedite the theater becoming a venue for Moravian College's theater program.

Moravian College President Bryon L. Grigsby greeted the sale enthusiastically.

"We are excited to be in partnership with developer J.G. Petrucci, which offers us an opportunity to explore reviving the Boyd property and bringing live theater to downtown Bethlehem," Grigsby stated in an email response to an inquiry from a reporter for Lehigh Valley Press about the sale of the Boyd.

The Boyd was on the docket for a scheduled sheriff's sale in Northampton County Court, allegedly for unpaid taxes. Notices had been posted on the Boyd facade that it was scheduled for a Dec. 12 sheriff's sale for unpaid property taxes estimated at $31,000.

The Boyd, 30 W. Broad St., a structure between Main and New streets that also includes other businessses and rental spaces, was closed by owner Joyce Heydt in May 2011 following water damage to the building's roof.

Heydt, who with her husband bought the Boyd in 1970, previously ran downtown Bethlehem's Nile Theatre, which closed. She also booked and managed movies shown at the Nineteenth Street Theatre, Allentown, until 1989 when movie exhibition there was taken over by building owner Civic Theatre of Allentown.

The Kurtz Theatre, which opened September 1921, was renamed the Boyd Theatre in 1934.

Moravian College is interested in using the Boyd for its theater department productions. It is not known if movies would continue to be shown there.

"The college must now do our due diligence to examine the issues, requirements and costs, as we review our options for use of the facility," Grigsby continued in his email statement.

"The signed agreement allows us a 90-day period to get into the facility and determine how much it would cost to get the theater operational. Once we have that figure, we will know the level of funding we'll need to raise to make this a reality for Bethlehem," Grigsby stated.

The Boyd is not in Bethlehem's recently-designated City Revitalization and Improvement Zone (CRIZ) where portions of taxes are made available to developers for real estate projects.

"Moravian College very much wants to expand its theater program into the heart of Bethlehem, but we will need support from governmental entities, as well as, investment from donors and philanthropists to make the dream a reality," stated Grigsby.

Moravian presents the majority of its stage shows in the Arena Theater, Haupert Union Building, 1200 Main St., on the college's main, or north, campus.

Moravian also has the Priscilla Payne Hurd Campus, known as its south campus, which includes Foy Concert Hall, Peter Hall, Payne Gallery, and music and art department classrooms, as well as The Hill student dormitories, at Main, Church and Lehigh streets in downtown Bethlehem.

Moravian's theater program, headed by Christopher Shorr, Director of Theatre, has collaborated with Touchstone Theatre on productions, including "Journey From The East," part two of which is to be presented in April 2015 at the Bethlehem-China Harmony Pavilion along the South Bethlehem Greenway.

Prior to the sale of the Boyd, Grigsby had stated: "The college seeks to work with the owner, the City of Bethlehem, and a local developer to ensure that the Boyd Theater remain an integral part of the fabric of downtown Bethlehem.

"We see the Boyd as an opportunity to enhance our theater program, while expanding our partnerships with other individuals and organizations to create a quality theater experience for our students, community partners and visitors, while serving as an economic engine for downtown Bethlehem," stated Grigsby.

Moravian College, America's sixth-oldest college, traces its founding to 1742.