Por Eurohoops Team/ [email protected]
The lease on the Wells Fargo Center will end in 2031, so the Philadelphia 76ers are looking to build a new arena, 76 Place. The company 76 Devcorp was created to lead the $1.3 billion project, the team announced Thursday.
This purpose-built, privately funded sports and entertainment arena will be located in a portion of Philadelphia’s current Fashion District and serve as an anchor for downtown.
The stadium will provide $1.9 billion in overall economic output during construction and $400 million annually upon opening to support Philadelphia’s long-term economic growth and sustainability.
“We are excited about the opportunity to build the future home of the 76ers in Center City,” said David Blitzer, 76ers co-managing partner. “I look forward to working with David Adelman and his team to develop and build an impactful stadium for our fans, our players and the city of Philadelphia.”
Development will be completed in time for the 2031-2032 NBA season. The opening of the proposed project is not expected for several years.
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