Well, he’s actually purchasing LA’s New Beverly Cinema, which was once a grindhouse, but is now one of the city’s finest revival theaters:

“As long as I’m alive, and as long as I’m rich, the New Beverly will be there, showing double features in 35mm,” Quentin Tarantino told the Hollywood Reporter.  He’s bought the 200 seat Fairfax District theater that has shown second-run double features since 1978 (Before that it was, appropriately, a grindhouse with live nude dancers, although it was built in 1929 and once showed first-run movies).  In the mid aughts, hearing operator Sherman Torgan was having trouble keeping the doors open, Tarantino started paying the monthly expenses.  After Torgan’s death in 2007, his son Michael took over operations, but the landlord had a buyer almost immediately.  Since the Torgans had the right of first refusal, Tarantino stepped in, and after some extensive haggling made a deal to buy the theater.

Well, that’s great news for LA, but if the New Bev can find its white knight in Tarantino, surely someone else both “alive and rich” can step in and save the Bodhi Tree?
 
(via Curbed)