A new arena is coming to downtown Philadelphia, and it will serve as home of the 76ers.
“The team shared some designs, as well as the proposed location for the $1.3 billion, privately funded arena,” RealGM wrote.
It is expected to be complete in time for the 2031-32 season, replacing the Wells Fargo Center, where the Sixers currently call home.
“The Philadelphia 76ers are a storied Philadelphia institution with a proven track record of investing in their community. That’s why we’re committed to building a world-class home in the heart of the City and creating a privately-funded arena that strengthens ties within the local community through investments that prioritize equity, inclusivity and accessibility,” Sixers owner Josh Harris said in a statement.
The sports and entertainment venue is expected to cost in the neighborhood of $1.3 billion.
Wells Fargo is located in South Philadelphia and has a reputation for not being easily accessible. That includes limitations on public transportation and parking. The new arena reportedly have several public transportation options nearby, along with considerably more parking opportunities.
“We know the best thing, we believe, for the city, for our fans and for our organization, is to be downtown in a state-of-the-art facility that’s going to be privately funded by our ownership team,” Sixers president Tad Brown said, via Tim Bontemps of ESPN. “And that’s going to create a brand-new environment, a whole new environment, that’s going to also really give a great economic boost in a development boost to a part of town that really needs it.
“We think it’s a win-win for the city and for our organization. … It’s going to be a lot of fun. It’s a great day.”