You can't miss it going into Kenmore Square: Boston's large, double-sided CITGO sign.

Deliberation lasted several months over whether the sign should stay after the building under it was sold by Boston University to Related Beal, a development company based in New York. Mayor Marty Walsh announced Wednesday that CITGO and Related Beal reached a consensus.

"I applaud Related Beal and CITGO for their willingness to come together in a collaborative way that will benefit the entire city," said Mayor Walsh. "The CITGO sign has become an important part of the community and I am delighted that both sides were able to agree on terms that will allow the sign to stay where it is."

The sign is not merely a sign for the city of Boston. When it first came into question, organizations such as the Boston Preservation Alliance and the Boston Landmarks Commission advocated for the sign to remain, identifying it as just as much a staple to the city as the Green Monster at Fenway Park and Old North Church. They even went so far as to seek landmark status for the sign after more than 5,000 people signed an online petition started by the Boston Preservation Alliance to keep the sign in the Boston University's plans to sell the building:

"It has encouraged many thousands of Marathon runners and its gleaming red triangle has presided over countless innings at Fenway Park. The sign is visible from almost every angle of the city and Cambridge serving as a beacon for the region. The CITGO sign isn't just an advertisement, it is a Boston landmark. For national audiences, it says "Boston" just as much as Old North Church and the Swan Boats."

The announcement was good news to Patrick Sinius who works in the Kenmore Square Barnes and Noble. 
 
"I think it's great," he said. "The sign's been up since 1940. I mean it's been around for a long time. You can't remove history. Massachusetts is all about history."

CITGO, which had launched a compelling  online campaign  touting the sign's local significance via the voices of local residents, was supportive of the deal. 

"We are proud that the CITGO sign has become a beacon in the Boston skyline and we are grateful to Mayor Walsh for his leadership in bringing the parties together," said Rick Esser, vice president of Supply and Marketing for CITGO. "This agreement ensures that the sign will continue to shine brightly for years to come."

Kimberly Sherman Stamler, president of Related Beal, also expressed her satisfaction about the deal.

"We are pleased to have reached a resolution where the sign will remain in place for decades to come and are grateful for the Mayor's leadership," she said. "We look forward to again collaborating with the City of Boston on plans for the redevelopment of Kenmore Square and to bringing increased economic activity, hundreds of jobs and a marquee office location to the area." 

Reporter Mark Herz contributed to this story.