A $1.3B proposal backed by Sixers managing partners Josh Harris and David Blitzer would put the team's home arena at 10th and Market.
The managing partners of the 76ers are teaming up with Philadelphia apartment developer David J. Adelman and others in a proposal to build aat 10th and Market Streets, which they say will create investment and employment opportunities in a city that needs them.
The $1.3 billion project would take up to nine years to plan and construct. It would be ready by the time the Sixers’ lease expires at the Wells Fargo Center in 2031. The group already has brought in stadium designer Gensler of San Francisco, stadium builder AECOM Hunt of Dallas, Langan Engineering of North Jersey, and Philadelphia developer Mosaic.
The project is so big that “it is highly likely that there will need to be some type of ordinance or package of ordinances,” said Anne Fadullon, the city planning director. Most important, she said, developers must “ensure the project works for the surrounding communities affected by this new arena.”
“This is private dollars coming into a tough city that‘s got its problems, and making a bet on the city and on the people,” Hughes said.
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