It may take almost a decade, but the Philadelphia 76ers are headed to the city. The recently unveiled privately funded $1.3 billion 76 Place Arena plan aims to remake a disused mall in the Fashion District and build a local hub on top of one of the most connected transit hubs in the city.
David Edelman, chairman of Arena Development Corporation and co-founder of FS Investments, a billionaire businessman, as well as CEO of Campus Apartments, says, “I think now that we have the grand unveiling, we need to show people off now. That we are real.” Founder of Darko Capital. “It’s not a fairy tale. It’s a reality.”
“We have vowed not to take any public subsidies,” says Edelman—the 76ers will first begin working with community stakeholders to create the vision for 76 Place Arena and then design, build, and build it by 2031. Will move on Inauguration The opening of the new venue coincides with the expiration of the team’s lease at Wells Fargo Center.
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After discovering a potential arena site, Edelman says he may wish to support Center City with a remake of a portion of the Fashion District mall. The new area will occupy one of the mall’s three existing blocks, allowing for a natural progression of revitalization in the other two blocks as part of a new approach to year-round activism.
“The mall hasn’t lived up to its full potential,” Edelman says. “We will open up the ground floor and invite people to gather in one place. My idea is the best anecdote for safety and safety is the foot on the road. We think it does.”
76ers Macerich . will partner with
“With our partners, the economic growth piece is really important to them,” says Edelman, who is working in partnership with 76 DevCorp 76ers managing partners Josh Harris and David Blitzer. “We want to be the catalyst for the middle of the city.”
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76ers has begun planning with sports architecture firm Gensler on the initial design. Already a defining feature of the location has emerged as the metro that feeds directly to the site. The stop, which sits on court level, has access to over 200 stations, nine times more connections than the current site.
With construction on the 76 not expected to begin until 2028, part of the longer timeline includes working with local stakeholders. The mall has been in place for 48 years, but two decades ago a plan to put a baseball stadium in the area involved displacing businesses and residential. Edelman says that while they are careful to keep the area where entertainment already exists, believing they will do business like it used to, they want to work with the community and not displace anyone. has vowed.
76ers watching what’s happening around the league when it comes to Downtown Arenas from Fiserv
“I’m involved in so many other businesses, I’m only doing this because I think it’s an exciting project,” Edelman says. “I’m 50 (years old) now and I’m going to be 60 when I go to my first game. I care deeply about Philadelphia. This is our chance to make a comeback. I want to do something good for City. Am.”