The controversial development that will bring a new arena for the Philadelphia 76ers to Center City goes far beyond a mere gym for the NBA team.
The downtown development plans for the city continue to grow, the Philadelphia Business Journal reported. Where once the focus was on an arena and a residential tower, there’s now exponentially more residences, retail space and hotel rooms, either directly in the plan or a stone’s throw away.
Mayor Cherelle Parker detailed the plans this week, days after she struck an agreement with team ownership for a $1.3 billion arena on Market Street that would keep the Sixers from leaving town. The centerpiece of the development is the 18,500-seat 76Place, which is awaiting approval from the mayor and the City Council.
Beyond that, however, there were already plans in place for a $250 million apartment building on the arena’s north side. The 25-story property is slated to include 395 units.
Since then, the Sixers added plans for developments on the south side of the arena, at 1000 and 1020 Market Street. Those projects will feature 380 units, 28,000 square feet for retail and 127 parking spaces; development would begin in 2027.
Afterwards, the Sixers will launch a second phase of the development at 920-38 Market Street. That will bring another 340 residential units, 26,000 square feet of retail space and 114 parking spaces. It’s expected to begin in 2030.
As for the arena, construction is expected to begin in 2028 and be ready for use by 2031, pending the necessary approvals. The Sixers will need to raze a portion of the Fashion District mall first. The arena will be privately funded.
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Separately, Goldenberg Group is planning a 420,000-square-foot hotel at 800-38 Market Street, which would include 400 to 600 rooms and 45,000 square feet of retail space.
Whether the expanding retail and residential components of the development are enough to assuage angry residents remains to be seen. Those who live in Chinatown, particularly, are still reeling from a divisive expressway that split the community three decades ago and are concerned about the effects of another development in their community.