The Pennsylvania franchise announced through its official channels the creation of a company for the construction of a new venue in the Fashion District Philadelphia.
Josh Harris and David Blitzermanaging partners of the Philadelphia 76ersannounced the creation of a new company, 76 Devcorpresponsible for developing the future home of the franchise of the NBA. They hope to be able to open the new venue at the beginning of the 2031-32 season.
“The Philadelphia 76ers are a historic Philadelphia institution with a proven track record of investing in their community. That is why we are committed to building a world-class home in the heart of the city and creating a privately financed stadium that strengthens ties within the local community through investments that prioritize equity, inclusion and accessibility.” , said Josh Harris76ers manager.
The cost of 76 Place will be around $1.3 billion. It will be located in a busy downtown area with several shopping and entertainment venues, and close to popular Philadelphia destinations such as the Reading Terminal Market.
The location was chosen primarily due to its access to traffic, according to the release. The team also cited the “ability to redevelop existing retail space.”
Foto: Mitchell Leff/Getty Images
With the announcement they have ensured that the project will generate 1,900 million in production and will employ up to 9,000 people. Once built, the figures will be around 400 million and 1,000 jobs per year. A new home would mean no longer sharing a stadium with the Flyers, a hockey team whose owner also owns part of the Wells Fargo Center.
“We are excited about the opportunity to build the future home of the 76ers in Center City”said David Blitzer, co-managing partner of the 76ers. They also had the site 76Place.com so that whoever wants to can keep up to date with the news of the project.
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