Philadelphia Mayor Cherelle Parker announced Wednesday that she has reached an agreement with the Philadelphia 76ers to build a new stadium in Center City and will refer it to the City Council.
The decision comes weeks after New Jersey’s governor offered $400 million in tax breaks to build a site across the river in Camden. A new arena in Center City will prevent an NBA team from moving.
“This is a historic deal,” Parker said in a video posted on X. “I believe with all my heart that this is the right deal for the people of Philadelphia.
“To the people of Chinatown, please know that I hear you. We have the best Chinatown in the United States, and I am committed to working together to support it.”
As your Mayor, I am speaking in my City Hall office with a very important announcement. I am proud to share that I have made my decision, and an agreement has been reached to ensure that our Sixers stay at home.
I believe with all my heart that this is the right deal for the People… pic.twitter.com/Fnj19mrBOV
— Mayor Cherelle L. Parker (@PhillyMayor) September 18, 2024
The new Philadelphia stadium will be two blocks from Chinatown in the Market East area.
On the 76 Place website, it reads, “76 is bringing in the full funding needed to build the arena, including an unprecedented $1.55 billion in private dollars to redevelop the struggling Market East neighborhood.”
The Sixers’ owners say their planned 76 Place would improve the retail space near City Hall and utilize the city’s public transit options. Of course, they vowed not to renew the lease on their current home, the Wells Fargo Center.
The owners of the Philadelphia 76ers are looking for their own state-of-the-art venue for NBA games, concerts, and other events
Built in 1996, the Wells Fargo Center is an arena located in the city’s South Philadelphia Sports Complex. The lease expires in 2031. The 76ers now lease the arena from Comcast Spectacor, which also owns the NHL’s Philadelphia Flyers, who also play there.
Additionally, the Sixers’ owners wanted their own modern, state-of-the-art facility. The owners are looking for a venue that they can rent out for concerts and other events.
Josh Harris, managing partner of the ownership group, Harris Blitzer Sports & Entertainment, also hopes the project will bring the community together.
I #The six released a new architectural rendering of 76 Place – a $1.3 billion stadium the group plans to build on Market Street in 2031.
(via Gensler and CBL Real Estate) pic.twitter.com/gqCHC2yo86
— Philly Sixers Galaxy (@sixers_galaxy) June 7, 2023
In fact, Harris said the Sixers will build a privately funded facility that “strengthens relationships within the local community through investments that prioritize equity, inclusion, and accessibility.”
On Wednesday, a spokeswoman for the 76ers said the owners are grateful for Parker’s support of their proposal “and look forward to moving forward with the next steps with the city council.”
In addition, Comcast Spectacor Chairman and CEO Daniel J. Hilferty said they will keep the door open for the 76ers as the program unfolds while working with the Phillies to expand entertainment and activities at the South Philadelphia complex.
“Either way, we always want the best for Philadelphia,” Hilferty said in a statement.
The Harris Blitzer Sports & Entertainment Group has proposed a Center City stadium in Philadelphia back in 2022. The new plans still need to be approved by the Philadelphia City Council.
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