The Boston Globe | By Tim Logan
October 21, 2016
Development firm Related Beal closed Friday on its purchase from Boston University of nine buildings in Kenmore Square, including the six-story building that houses the iconic Citgo sign.
Related paid about $140 million, according to a source familiar with the deal, for the collection of older office buildings with storefronts along Beacon Street and Commonwealth Avenue. They also acquired control of the famous sign, for which Citgo leases space atop 660 Beacon St.
It’s an icon that could yet become a bit of a headache.
The Boston Landmarks Commission appears poised to declare the half-century-old sign an official city landmark, which could hinder development on the site. Members of the commission are hammering out details — such as how high the sign can be and if it could be moved slightly — and a final vote is likely early next year.