Molly Lo ’27
In a historic move for Philly sports, the 76ers are paying out of pocket to build a $1.3 billion arena at Market East and Fashion District, Pennsylvania. The decision to privately fund the construction of “76 Place” is unusual, with no taxpayer dollars involved in creating the team’s new home. The proposed plan has elicited both criticism and excitement, with varying opinions on how the new arena will impact different aspects of city life, but the plan aims to better the city of Philadelphia and increase revenue and ticket sales for the 76ers organization.
Some major benefits of the construction are the opportunities it presents to provide employment and support surrounding areas. The project, which will begin construction in 2028 and is planned to open in 2031, is predicted to create over 1,000 construction and operation jobs for Philly residents. The 76 Place website estimates that the construction of the arena will create $1.5 billion in new tax revenue over its first 30 years of business, but this number varies based on other estimates. Other studies have predicted that the new tax revenue will be closer to $390 million, which falls short of the 76 Place prediction. Additionally, other studies have predicted that the arena could cost as much as $1 billion in lost tax revenue for the city by disrupting local businesses during construction.
Despite potential disruptions from construction, events at the stadium are also predicted to significantly increase foot traffic to Market East and local businesses. Moreover, the Sixers are signing a $50 million Community Benefits Agreement (CBA) to support surrounding neighborhoods and bring a city-wide focus to improving Chinatown, which is located near the new arena. Hailey Rosenberg ’25 explains her enthusiasm for the new arena saying “I frequently go to Sixers games with my friends and family so I am excited to see the new arena and think it could add to the overall experience of going to Philly sports games.”
Photo courtesy of sportsbusinessjournal.com
However, the feedback is not all positive. The stadium’s close proximity to Chinatown—just one block away—has sparked concerns. Some critics worry that the arena could displace Chinatown residents and businesses, with a heightened concern that it could potentially decrease demand for local businesses. Some argue that the stadium could limit all road traffic on game days and events, disrupting the consistent flow of visitors Chinatown’s economy relies on. Additionally, Chinatown’s social ecosystem is largely dependent on strong community connections, making the potential repercussions of these bonds being broken if residents are pushed out or the area becomes more commercialized.
These concerns have rallied the community leading to various protests and rallies in the area. Jacob Kim ’25, a participant in these rallies, elaborates on the cause, “We rallied volunteers to spread awareness about how a 76ers arena would displace Chinatown’s small businesses and cause gentrification. We collaborated with other local high schoolers and passionate Philadelphians to ultimately try to convince Mayor Cherelle Parker to disapprove the project.”
Upper School Math Teacher and avid Philly sports fan Jay Jennings notes the possible effects of the new stadium, observing that “some people are very upset that it may place less emphasis on the location’s history and overshadow local businesses. I hope that increasing foot traffic in the area will be helpful to these businesses. I also think that the stadium will help property values, especially at Market East.”
In response to concerns raised, Mayor Parker announced some guiding principles for overseeing the development. The official website of the City of Philadelphia outlines these guiding principles which are meant to ensure that city resources are used responsibly, that Market East is revived without disrupting Chinatown’s identity, and that employment opportunities are accessible.
Photo courtesy of WHYY
Jennings adds that he is unsure whether to be excited about the new stadium and explains, “I live very close to the train, so I could take the Paoli Thorndale right there, which would be a definite pro. I have been to other cities where the stadium is downtown, and you can wander around, and it’s really fun. On the other hand, they are trying to revamp the stadium district. I think it should all be in the same area. It’s convenient to have the parking lot used for multiple sites. With the new downtown area, you couldn’t drive there because there is no parking nearby, so you would have to take the train. For me, it’s not a problem, but for others, limiting parking could raise a big issue.”
Jennings’ concern over parking is one shared by many locals, and the city has therefore been conducting studies to propose strategies that could help mitigate parking issues. According to the 76 Place website, “50% of visitors are expected to travel by public transit or walking to 76 Place.” The site also emphasizes the convenience of the new location stating, “The new location has direct access to every major train line in the city.” The increased public transit access and accessibility to the stadium will hopefully offset the reduced parking availability, creating a new atmosphere for Philadelphia sports fans.
However, Mathematics Department Chair CJ Yespelkis is also hesitant to be excited about the new stadium, specifically regarding its parking limitations. He explains, “One of the city’s big advantages is that all its sports teams play in the same area. That’s something that is unique to Philadelphia. It’s a very cool atmosphere, having every team in the same location. From a public transportation perspective, it’s a very interesting challenge to place the arena where there is not as much space for parking. People will likely be locked into taking public transportation. There will also not be nearly the same tailgating atmosphere.” Jake Lange ’25 expresses similar sentiments saying “I think it’s upsetting it won’t be the same atmosphere as the Wells Fargo center anymore.”
The Sixers’ lease at the Wells Fargo Center expires in 2031. The new agreement will keep the 76ers playing at 76 Place until at least 2061. In the meantime, the team ultimately continues to receive backlash for the proposed stadium’s location, while many view the stadium’s economic benefits as a favorable opportunity for the city.