The Pennsylvania franchise announced through its official channels the creation of a company for the construction of a new venue in the Philadelphia Fashion District.
Josh Harris and David Blitzermanaging partners Philadelphia 76ersannounced the creation of a new company, 76 devcorpresponsible for building the franchise’s future home NBA. They hope to open the new venue at the beginning of 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 funded stadium that strengthens relationships within the local community through equity-prioritizing investments. , inclusion and accessibility. Josh Harris76ers manager.
The value of 76 places is around $ 1.3 billion. It is located in a busy downtown area with several shopping and entertainment venues, and close to popular Philadelphia destinations such as Reading Terminal Market.
The location was chosen primarily because of its access to traffic, according to the release. The team also mentioned the “ability to rebuild existing retail space.”
Photo: Mitchell Leff/Getty Images
In the announcement they assured that the project will generate 1,900 million in production and employ up to 9,000 people. Once built, the numbers will reach 400 million and 1,000 jobs per year. A new home means no longer having to share 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 76ers’ future home in Center City.”said David Blitzer, co-managing partner of the 76ers. They also have a site 76Place.com so that anyone who wants to keep up with the news of the project.
Source: Tycsports
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