Mayor Cherelle Parker is endorsing the 76ers' plans to build a new arena in Center City and has reached an agreement to keep the team in Philadelphia. The news comes one week after hosting a town hall for the controversial project that would impact Chinatown.
The $1.55 billion proposed arena, 76 Place, would stand in the city's Market East section, on Market and Filbert streets and 10th and 11th streets, and replace part of Fashion District Philadelphia. It would also bring a mixed-use high-rise building with about 395 units next to the arena.
With Parker's endorsement, the proposal now needs backing from city council to get final approval.
"We are grateful to Mayor Parker and her team for their time and diligence in evaluating our proposal and look forward to advancing to the next steps with City Council," the Sixers said in a statement.
The Sixers' proposed arena, introduced in 2022, would be in Councilmember Mark Squilla's district. He previously said a decision on 76 Place was likely in the fall.
Squilla said in August 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. He also says he will share the legislation with key stakeholders 30 days before it is introduced to get feedback.
The Sixers have previously said they're running out of time for the arena's approval if they want to open it by the 2031-32 NBA season. The team's lease at the Wells Fargo Center, owned by Comcast Spectacor, ends in 2031.
The announcement from Parker comes after New Jersey offered the Sixers the opportunity to build the proposed arena on the Camden waterfront just north of the Ben Franklin Bridge, which included more than $1 billion worth of tax credits and bonds in the deal.
After the deal from New Jersey emerged, Parker said it was a priority to keep the Sixers in the city as the team considered all options.
In late August, the city released four highly anticipated independent studies on the impacts of the proposed arena. The long-awaited reports focused on the community impact, traffic impact, economic impact and the design of 76 Place.
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 success of the arena, and that if more than 40% of people drive to 76 Place, some intersections could be gridlocked with traffic.
The Sixers and others who support the proposed arena, including IBEW Local Union 98 and the NAACP Philadephia, said it would revitalize Market East and create jobs.
The Save Chinatown Coalition has strongly opposed the construction of the arena, saying the development would harm the neighborhood.