The Philadelphia Mayor Cherelle Parker unveiled the details of the agreement with the National Basketball Association (NBA) team Philadelphia 76ers to build a new arena in Center City during a public meeting held on September 25th at the Pennsylvania Convention Center in Philadelphia, Pennsylvania (US).
‘CBS NEWS’ stated that the City shared an 80-page document containing details about the City’s economic plan, the redevelopment of Market East and its commitment to Chinatown (neighborhood in Philadelphia, Pennsylvania) where the community members have strongly opposed the arena since the Sixers introduced it in 2022.
The Philadelphia 76ers, also known colloquially as the Sixers, is an American professional basketball team based in the Philadelphia Metropolitan area (US). The 76ers compete in the National Basketball Association (NBA) as a member of the Atlantic Division of the Eastern Conference.
The 21,000-capacity Wells Fargo Center is a multipurpose indoor arena located in Philadelphia (US). It serves as the home of the Philadelphia 76ers of the National Basketball Association (NBA).
‘CBS NEWS’ further stated that according to Parker, the agreement would keep the Sixers in Philadelphia until 2061. It’s also expected to generate $700 million in new tax revenue for the City and the School District of Philadelphia and create more than 1,000 construction and operations jobs.
Pointed out Parker, “It’s the best sports facility agreement in Philadelphia history.”
Deets
Legislative Package
Parker’s legislation for the Sixers’ proposed arena, 76 Place, can be introduced to the City Council as early as October 24th.
The 18,500-capacity 76 Place at Market East is a proposed indoor arena in Center City, Philadelphia (US). It would be the future home of the Philadelphia 76ers of the National Basketball Association (NBA) and is planned to open in 2031.
According to the presentation released by the Parker’s administration, the legislative package includes 11 ordinances and resolutions that would require pre- and post-construction approval. The ordinances and resolutions include real estate transactions, adjustments to tax increment financing and Neighborhood Improvement District (areas that fund public improvements to benefit the community) areas and zoning.
The tax increment financing is a public financing method that is used as a subsidy for redevelopment, infrastructure and other community-improvement projects in many countries, including the United States.
The ordinances and resolutions include street closures during the construction of the arena, including the 1000 block of Filbert Street between 10th and 11th Streets and the reconfiguration of the 10th Street Bridge.
When the legislative package heads to the City Council it will be voted on by all the 17 Members. If at least nine vote in favor, it goes to Parker’s desk for the final sign-off.
The arena would sit in Councilmember Mark Squilla’s district. He said a decision on 76 Place would likely happen in the Fall and that if legislation on the arena is introduced there will be hearings to gather public comment and consider amendments before any final decision is voted on. Squilla also said he will share the legislation with the key stakeholders 30 days before it is introduced to get feedback.
Put in Parker, “I am proud and take full responsibility for what is included in this agreement. I look forward to the legislative process and how it moves forward.”
76 Place Construction Timeline
According to the agreement, if the City Council passes the arena, demolition will start in 2026.
Construction for the arena would start in 2028 and the arena would open in 2031.
The Sixers’ lease at the Wells Fargo Center with Comcast Spectacor ends in 2031 and the team wants to open 76 Place for the 2031-2032 NBA seasons.
The Comcast Spectacor is an American sports and entertainment company based in Philadelphia, Pennsylvania.
New York (US)-based the National Basketball Association (NBA) is a professional basketball league in North America composed of 30 teams. It is one of the major professional sports leagues in the United States and Canada and is considered the premier professional basketball league in the world.
The $1.3 billion proposed arena would be located at Market and Filbert Streets and 10th and 11th Streets replacing part of Fashion District Philadelphia.
Chinatown Commitment
Since 76 Place was introduced in 2022, advocates for Chinatown have strongly opposed the potential arena saying that the development would harm the neighborhood. Recently, after Parker endorsed the project, the community members held a rally outside the City Hall and later said their “fight is far from over”.
Parker once again stressed that she wants to see Philadelphia’s Chinatown thrive despite the backlash from the community members – “I am committed to working with the leadership in the Chinatown community that is included in this agreement.”
Part of that agreement with the Sixers includes a $50 million Community Benefits Agreement (CBA) which would support the nearby neighborhoods, including Chinatown, and make Citywide investments in education and economic opportunity, according to Parker. Seventy percent of the $50 million would be spent on the impacted communities within the first 10 years.
According to Parker’s presentation, the Community Benefits Agreement would “jumpstart” a City-led focus on Chinatown aimed at strengthening the community in the future.
The CBA includes a Chinatown Small Business Lending Fund which would include $3 million to help stabilize and expand the Chinatown businesses.
A community benefits agreement (CBA) in the United States is a contract signed by the community groups and a real estate developer that requires the developer to provide specific amenities and/or mitigations to the local community or the neighborhood.
The City also plans to work with the Philadelphia Parking Authority on a parking analysis of the area surrounding the arena. It hopes to promote ride-hailing and other public transportation that steers traffic away from Chinatown.
In August, the City released four highly anticipated independent studies which included how the arena would impact Chinatown.
The reports found that the Sixers’ proposed arena could indirectly displace businesses and residents in Chinatown which would sit North of 76 Place. The reports also found that public transportation will be key for the arena’s success and that if more than 40 percent of people drive to 76 Place some intersections could be gridlocked with traffic.
In a statement following the meeting on September 25th, the Save Chinatown Coalition said in part, “It is outlandish that the Mayor is unilaterally trying to impose a CBA on a project that lacks even the most basic studies on housing and rent costs, impacts on the small businesses, livability, and transit access – issues that will impact the City for years to come, between multiple years of construction and long-term damage to the traffic flow and access to emergency healthcare. We are united in opposition to the arena and the rushed, haphazard process surrounding it.”
Public Safety Spending
The plan also addresses public safety in the area of the arena.
According to the City’s presentation, the Sixers will have a dedicated staff responsible for responding to the community concerns about the arena.
The agreement between the Sixers and the City also states that the team will spend $4.14 million on 21 new security cameras and lighting around the arena as well as a new “neighborhood security substation” for public safety staff from the Philadelphia Police Department, the Southeastern Pennsylvania Transportation Authority (SEPTA), the Center City District, and others.
Redeveloping Market East Corridor
The Mayor’s presentation said the arena offers an opportunity “to unlock long-needed redevelopment” along the Market East corridor running from the City Hall to the Delaware River.
Added Parker, “If anyone tells you that the Market Street is OK the way it is, I will tell you that they haven’t been in Philadelphia as long as I have and that vision is short-sighted.”
The Sixers’ plan to redevelop the Market East has two phases. The first includes the arena site and the South side of the 1000 block of Market Street. Development is expected to include 380 residential units, 127 parking spaces and 28,000 square feet of retail space.
The second phase focuses on the South side of the 900 block of Market Street and would include 340 residential units, 114 parking spots and 26,000 square feet of retail space.
The City says that in addition to the Sixers’ plans, the other developers have proposed projects that would add hundreds of residential units and hotel rooms, 50,000 square feet of new retail space and 700,000 square feet of office space to the corridor.
WNBA Team
If the arena gets built, the Sixers won’t be the only ticket to see at 76 Place. There will be potential for more concerts, college basketball tournaments and even a future Women’s National Basketball Association (WNBA) team in Philadelphia.
Parker briefly talked about Philly potentially adding a WNBA during the public meeting – “I know you notice we don’t have a WNBA here in the City of Philadelphia, you all know your Mayor don’t like that.”
The Philadelphians have been hopeful for a WNBA team since the Commissioner of WNBA, Cathy Engelbert, said in April that the City was in the running for a WNBA franchise. The WNBA has recently added expansion teams and will have 15 franchises in 2026.
Parker said she has been hoping for a WNBA team in Philly for even longer – “I got connected during my 10 years of majority leader in the Council with a dynamic group of women who have been working for a very long time to put together the potential for Philadelphia to see a team one day. I knew it was a long shot, but when they told me about the idea, I said, ‘I will try’. I don’t like Philadelphia being left out. I will tell you that with this new Sixers arena there, there is no one who can tell me that Philadelphia just would not have upped its position in trying and trying to pursue a WNBA team for our great City. I can hope, I can dream, I can pray.”
New York (US)-based the Women’s National Basketball Association (WNBA) is a women’s professional basketball league based in the United States and is composed of 12 teams. The league was founded on April 24th, 1996, as the women’s counterpart to the National Basketball Association (NBA). League play began in 1997.
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