It's Official: The 76ers Are Getting A New Arena

PHILADELPHIA — The Philadelphia City Council approved the plan to construct a basketball arena in Chinatown Thursday.

During a contentious and raucous meeting Thursday, the city's leaders voted 12-5 in favor of the controversial plan to build an arena for the Philadelphia 76ers called 76 Place.

Before the meeting could begin, protesters staged a sit-in on the council hall's floor, leading to several being arrested and escorted out of the chamber.

The vote came after a lengthy public comment section, which largely saw citizens opposing the plan speaking. Some commenters expressed support for the plan, however.

The arena will be at 10th and 11th streets on Market Street in a part of the Fashion District mall.

This site was chosen primarily due to it being the most transit-rich location in all of Philadelphia, the ability to redevelop an existing commercial space, and the opportunity to play a role in the continued revitalization of Center City, according to 76 Devcorp.

Proponents of the plan tout it as a $1.3 billion private section investment into the city by.

Mayor Cherrelle Parker said the area will result in "hundreds of millions of dollars" in new tax revenue for the city and School District of Philadelphia.

Parker also touted "hundreds and hundreds" of jobs for Philadelphians and said the economic opportunities represented by the agreement are unprecedented for the city.

According to 76 Devcorp, the timeline for the arena is as follows:

• 2022-2024, Entitlements and Approvals
• 2024-2026, Design
• 2026-2027, Demolition
• 2028-2031, Construction
• 2031, Opening

"The Philadelphia 76ers are a storied Philadelphia institution with a proven track record of investing in their community," said Josh Harris, 76ers Managing Partner. "That’s why we’re committed to building a world-class home in the heart of the City and creating a privately-funded arena that strengthens ties within the local community through investments that prioritize equity, inclusivity and accessibility. David Adelman shares our vision for ensuring that the new arena is an anchoring force in the local community, creating well-paying jobs and economic opportunities for those who need them most."

The team says construction alone will generate $1.8 billion in economic output and create 9,000 jobs.

Then, the ongoing operation of 76 Place will generate $400 million in economic output annual and sustain 1,000 jobs.

The Development Corporation will work closely with Macerich, the managing partner of the owning entities and operator of Fashion District Philadelphia, to realize the full potential of the site.