Plans are underway for the construction of the Philly NBA Arena in Center City, Pennsylvania. The Philadelphia 76ers have so far submitted a proposal for the implementation of the project.
Located at 10th and Market Streets in downtown, to be precise, the project will cost around US$1.3 billion. It would apparently take nine years of planning to have the arena ready by 2031. That’s when the team’s lease at the Wells Fargo Center expires. Groundbreaking in 2028 is subject to city approval.
Philly NBA Arena Location
It took two years for the 76ers (sixers) to decide on the location of the new Philly NBA arena. Eventually, the Center City fashion district was chosen to build the world-class, privately-funded arena for the team. This was due to the location having the most accessibility to public transportation in all of Philadelphia. Compared to the sixers’ current home with a seating capacity of 20,478, the new arena will seat approximately 18,000.
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Sixers owner Josh Harris said the location chosen for the project is a key step in the development process. He said the Philly NBA arena is destined to become a destination for youth games, concerts, events and more. Thus, stimulating the economy of downtown and surrounding communities through sports activities and other events. Another benefit of the project’s location between Market and Filbert Streets would also be the enhancement of nearby property values.
Development plans for the new Philly NBA arena
Before construction of the Philly NBA Arena begins, a block in Philadelphia’s Fashion District mall must be demolished. In place of this structure, a transit hub connecting to the Vine Street Freeway will be constructed. In addition, a new parking garage and the Ben Franklin Bridge will also be erected on this site. The proponents claim that an overall economic output of approximately $1.9 billion is expected to be generated by the project. This will represent an annual production of US$400 million to support Philadelphia’s economic growth.
Tad Brown, Chief of Harris Blitzer Sports and Entertainment (Josh Harris’ management company), mentioned other benefits of the new Philly NBA arena. He said the new arena will provide more enhanced digital services, which will provide better viewing of the game and give spectators a better experience. Brown also pointed out that this project would create a whole new environment, to give the city a much-needed economic boost.
The development team
Construction of the new Philly NBA arena will be overseen by a newly created development group named 76 DevCorp. This team will be led by David Adelman, co-founder of FS Investments and founder of Darco Capital.
Additionally, San Francisco-based stadium designer people and stadium builder AECOM Hunt of Dallas were also hired for the project. Based in North Jersey Langan Engineering will also be part of the team.