A plan to build a $1.3 billion arena for the NBA’s Philadelphia 76ers is moving forward after city officials voted 12-5 on Dec. 19 to approve the plan.
The proposed arena, called 76 Place at Market East, would be built in downtown Philadelphia on part of the site of the Fashion District mall. The venue is expected to seat at least 18,500, although the design is not complete.
Mayor Cherelle Parker said during a State of the City address that the facility is expected to generate $700 million in tax revenue, and the 76ers have agreed to fund a $60 million community benefits agreement. dollars, in addition to paying for the project without city money.
“I am proud of this deal, which compares favorably to any sports arena or stadium deal in Philadelphia’s history,” Parker said.
The 76ers aim to move from their current home at the 20,000-seat Wells Fargo Center in South Philadelphia to the new arena in 2031. According to a timeline proposed by the team, demolition of the mall would begin in 2026, followed by the start of construction in 2028. They have not named a contractor yet.
Team owners Harris Blitzer Sports & Entertainment, along with project partners 76DevCo and Mosaic Development Partners, have also proposed to build 54,000 square feet of commercial space, 720 residential units and more than 83,000 square feet of ‘parking at the site of the arena. and close to Carrer del Mercat.
Although officials voted to approve the plan, there is controversy over the selected location due to concerns that the project could cause gentrification in Philadelphia’s Chinatown and other nearby neighborhoods. Councilman Jamie Gauthier, who voted against the plan, said in a statement that the area needs revitalization, but that the $60 million community benefits agreement is not enough “to offset the damage” it will do to the local residents, businesses and non-profit organizations.
“My training as a city planner and lived experience as a lifelong resident of West and Southwest Philadelphia lead me to conclude that this is a bad deal for our city and our communities “, he said.
