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The Philadelphia 76ers are offering to move to a new downtown Fashion District arena called 76 Place.

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PHILADELPHIA (WPVI) — The Philadelphia 76ers are proposing a brand new downtown arena, moving it from South Philadelphia to the fashion district.

It will be called 76 Place at Market East. On Thursday, the team launched a website, 76place.com, explaining the proposal.

The team’s lease at Wells Fargo Center expires in 2031.

“The Wells Fargo Center is currently one of the NBA’s oldest arenas and will be 35 years old by the time the lease expires in 2031. vision of building a championship-level franchise for decades to come,” the organizers say.

“While we are grateful to Comcast Spectacor for the recent renovations aimed at improving the fan experience, they are typical of arenas that are 20 years old and will not extend the life of the building.”

This location will be on Market Street between 10th and 11th streets. For this to happen, they would have had to demolish the Fashion District Mall, formerly The Gallery.

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

In addition, 76 Devcorp is partnering with Mosaic Development Partners, a Philadelphia-based MBE (Minority Business Enterprise)-certified development company.

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

“Put simply, there is no better place to build an arena in Philadelphia than downtown, with its robust public transportation infrastructure and vibrant existing businesses committed to serving fans and visitors alike. 76 Devcorp is inspired by many successful sports and entertainment arenas. built in densely populated urban centers, which promotes integration with surrounding communities. We are committed to making this development a win for our fans and Philadelphia as a whole,” Adelman said in a press release.

The effort will be privately funded and is expected to cost $1.3 billion.

“We are not seeking funding from the city of Philadelphia,” the developers say.

A post on the 76 Place website reads:

“The Philadelphia 76ers are ready to bring back a new championship-caliber arena to the heart of Philadelphia. 76 Place is being proposed as the new home for the Philadelphia Seventy 66ers, where we will build a new arena that is privately funded and developed in collaboration with We are committed to working with local stakeholders to ensure the project supports the surrounding neighborhoods and promotes economic opportunity, inclusiveness and accessibility.” .

Members of 76 say the project will be “a major economic boost to Philadelphia residents by creating jobs and contracting opportunities during construction and after opening.”

The construction will generate $1.9 billion in economic impact and 9,000 jobs, according to the design team. The arena will generate $400 million in economic output per year and create 1,000 jobs.

Construction is expected to begin in 2027 and be completed by the 2031–2032 NBA season.

The team behind the arena is seeking public opinion. They say the Social Benefits Agreement will be designed to “address community issues and advance the area’s key priorities.”

Developers say Philadelphia was once home to two arenas – the Wells Fargo Center and Spectrum – and are confident that the city will once again be able to support two arenas.

In terms of parking issues, the developers say they envision the place to be dependent on public transport. However, for those who will be driving to the games, they say the arena will be within a mile radius of 29 garages.

Organizers say the project will not destroy residential buildings or displace existing residents. They say they know how earlier efforts to develop Chinatown have met with resistance.

“The team is aware of these efforts and the threats they pose to the community, so this project is being approached differently. We propose to replace one entertainment complex with another, and we will not force out the residents of Chinatown,” the developers said. to tell.

“Our promise is to promote a fair, community-driven resurgence with this project and ensure the arena is a win for fans, Philadelphia, and nearby communities,” said David Gould, director of diversity and impact for the 76ers. “We look forward to listening to the local community, including local organizations, businesses and residents, especially in Chinatown and Washington Square West, and working with them to develop a Social Benefit Agreement that will lead to long-term positive results.”

Their plan is to work with the owners of the Fashion District to reimagine 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’ suggestion:

“We have had an amazing partnership with the Sixers for decades and look forward to hosting the team at this world-class facility until at least 2031. We have invested hundreds of millions with the City, Phillies and Eagles to make Philadelphia’s South Stadium District an incredible place for sports, entertainment and meeting our passionate fans. We think it can rival any city in the country and will continue to attract the best events – the 2026 FIFA World Cup is a perfect example of this.”

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