The Philadelphia 76ers are proposing to move to a new downtown Fashion District arena called ’76 Place’

PHILADELPHIA (WPVI) — The Philadelphia 76ers are proposing to build an all-new arena in downtown, moving it from South Philadelphia to the Fashion District.

It would be called 76 Place at Market East. The team launched a website Thursday at explaining the proposal.

The team’s tenure at the Wells Fargo Center ends in 2031.

“The Wells Fargo Center is currently one of the oldest arenas in the NBA and by the time our lease expires in 2031, it will be 35 years old. Given that most arenas only remain in use for 30 to 40 years, the current location is not conducive to our vision of building a championship-level franchise for decades to come,” organizers say.

“While we are grateful for the recent renovations performed by Comcast Spectacor to improve the fan experience, these are typical of arenas that are 20 years old and will not significantly extend the life of the building.”

This location would be on Market Street between 10th and 11th Streets. They would have to demolish a block of the Fashion District Mall, formerly The Gallery, for that to happen.

The arena is being developed by 76 Devcorp, a partnership between 76ers managing partners Josh Harris and David Blitzer and real estate developer and investor David Adelman.

Additionally, 76 Devcorp is working with Mosaic Development Partners, a Philadelphia-based real estate development firm with MBE (Minority Business Enterprise) certification.

The developers say the idea is “inspired by the success of downtown arenas in other cities”, such as Madison Square Garden in New York.

“Simply put, there’s no better place to build an arena in Philadelphia than downtown, with its strong public transit infrastructure and vibrant existing businesses eager to serve fans and visitors alike. 76 Devcorp is inspired by many successful sports and entertainment arenas built in dense urban centers that promote integration with surrounding communities.We are committed to ensuring that this development is a win for our fans and Philadelphia as a whole. together,” Adelman said in a press release.

The effort would be funded by the private sector and is expected to cost $1.3 billion.

“We are not seeking any funding from the City of Philadelphia,” the developers state.

A message on the 76 Place website reads:

“The 76ers are ready to bring a new championship-caliber arena to the heart of Philadelphia. 76 Place is proposed as the new home of the Philadelphia 76ers, where we will build a new privately funded arena developed in conjunction with the We are committed to work with local stakeholders to ensure the project supports surrounding neighborhoods and promotes economic opportunity, inclusivity and accessibility.

The 76ers say the project would be “a major economic driver for Philadelphians, creating jobs and contracting opportunities during construction and after opening.”

According to the project team, construction would create $1.9 billion in economic output and 9,000 jobs. The arena would bring $400 million in economic output per year and 1,000 jobs.

Construction should begin in 2027, they say, and be completed in time for the 2031-32 NBA season.

The team behind the arena is looking for feedback from the public. They say a Community Benefits Agreement will be developed to “address community concerns and advance key neighborhood priorities.”

The developers say Philadelphia was once home to two arenas – the Wells Fargo Center and the Spectrum – and are confident the city can once again house two arenas.

As for questions about parking, the developers say they envision this location to be transit-dependent. However, for those driving to the games, they say the arena would be within a one kilometer radius of 29 parking lots.

Organizers say this project will not eliminate any residences or displace existing residents. They say they are aware of how past development efforts in Chinatown have been opposed.

“The team is aware of these efforts and the threats they pose to the community, which is why this project is being approached differently. We are proposing to replace one entertainment complex with another and will not displace any Chinatown residents,” the developers said. say.

“Our commitment is to advance equitable and community revitalization through this project and to ensure that the arena is a win for the fans, Philadelphia and surrounding communities,” said David Gould, Director of Diversity and the impact of the 76ers. “We look forward to listening to and working with the local community, including local organizations, businesses and residents, especially in Chinatown and Washington Square West, to develop a community benefits agreement that will result in impact positive in the long run.”

Their plan is to work with the fashion district owners to reinvent the remaining 2/3 of the mall as an entertainment center to complement the arena.

Comcast Spectacor released this statement in response to the 76ers’ proposal:

“We’ve had a tremendous partnership with the Sixers for decades and look forward to welcoming the team to this world-class facility until at least 2031. We’ve invested hundreds of millions alongside the city, Phillies and Eagles to make the South The Philadelphia Stadium District is an incredible destination for sports, entertainment and our passionate fans.We believe it rivals any other country and will continue to attract the best events – the Cup of the 2026 FIFA World Cup is a perfect example.”

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