As the debate continues over the Philadelphia 76ers’ proposed plan to build a new arena in Center City’s Market East neighborhood, the owner of the team’s current home unveiled renderings of an alternative plan to revitalize the location.
In 2022, the Sixers announced plans to build a new $1.3 billion arena called “76 Place” at Market East and Fashion District Philadelphia by the start of the 2031-32 NBA season. The team’s lease at the Wells Fargo Center at the South Philadelphia sports complex – where they’ve played since 1996 -- ends in 2031.
A report from the Philadelphia Inquirer stated that Comcast Spectacor -- which owns the Wells Fargo Center -- presented a plan to a community group that would supplant the Sixers arena by turning the Fashion District mall into a biomedical research facility.
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A spokesperson for Comcast Spectacor did not confirm the specific details of the Inquirer's report but sent NBC10 four renderings of the company’s plan to revitalize Market East should the Sixers’ plans for 76 Place fall through.
“Our hope is that the 76ers remain in South Philadelphia as a partner in the Wells Fargo Center,” Dan Hilferty, Chairman & CEO of Comcast Spectacor, wrote. “We continue to offer the 76ers a 50/50 partnership, which includes the opportunity to build a new arena on an accelerated timeline. If the 76ers decide to stay in South Philadelphia, Comcast Spectacor recognizes there is still a need to revitalize Market East. As a long-time corporate citizen, we are committed to being part of the Market East solution and therefore we presented an alternative plan to create benefits for all community members and enhance Philadelphia’s vibrant downtown.”
The Sixers’ proposed arena has sparked resistance and protests from leadership in the city’s Chinatown community. Members of the community have said that the proposed arena could cause street parking to disappear as well as a rise in traffic. They also said it could be harder to hold festivals.
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In August, the City of Philadelphia released four reports analyzing the potential impact of the Sixers proposed arena in Center City.
According to the study, the impact on Market East is "inconclusive" and with or without the arena, the area will still face challenges in terms of development. However, the report also notes the development could help reinvigorate the neighborhood if it can resolve transportation and safety issues.
As for Chinatown, the report says 1 in 5 small businesses in the neighborhood could benefit. Those businesses are mainly in entertainment, food and hospitality.
On the other hand, half of the small businesses in Chinatown would not benefit or see a negative impact, according to the report.
The report also says there will be no direct housing displacement, but there is evidence for indirect displacement of small businesses, through gentrification.
The announcement from Comcast Spectacor also comes as New Jersey continues to propose moving the Sixers to a new arena in Camden. On Monday, Tim Sullivan, the CEO of the New Jersey Economic Development Authority, wrote a letter to Tad Brown, the CEO of Sixers owner Harris Blitzer Sports & Entertainment (HBSE), highlighting the possibility of up to $400 million in tax incentives should the team move to Camden.
