The NBA’s Philadelphia 76ers have unveiled plans to build a new arena in the heart of the US city in time for the start of the 2031 season.

The new, privately funded arena is anticipated to cost approximately $1.3 billion. The arena will provide $1.9 billion in overall economic output during construction and $400 million annually upon opening to support Philadelphia's long-term economic growth and sustainability.  

The development will be completed in time for the 2031-2032 NBA season. Ground-breaking for the proposed project is not, however, expected for several years.

Led by Philadelphia business leader David Adelman, in partnership with Harris Blitzer Sports Entertainment (HBSE), 76 Devcorp is pursuing the privately funded, purpose-built sports and entertainment arena, 76 Place, that will be located on a portion of the current site of Fashion District Philadelphia and serve as an anchor to Center City.  

Josh Harris, 76ers managing partner, said:

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 prioritise equity, inclusivity and accessibility. David Adelman shares our vision for ensuring that the new arena is an anchoring force in the local community, creating well-paying jobs and economic opportunities for those who need them most.

Adelman said:

The Philadelphia 76ers’ extensive evaluation of potential sites for an arena over the past two years culminates today with plans to pursue the Fashion District Philadelphia site as the proposed new home of the team. The chosen location is a key step in the process of developing a destination that provides Center City and surrounding communities with an economic engine generating activity through 76ers and youth games, concerts, events and more.

76 Devcorp carefully evaluated numerous potential sites before determining Fashion District Philadelphia as its preferred location. The site was selected primarily due to it being the most transit-rich location in all of Philadelphia, the ability to redevelop an existing commercial space, and the opportunity to play a role in the continued revitalization of Center City.  

A robust community engagement process is planned to ensure community interests help drive the plans for the proposed development and that it fits within the context of surrounding communities, while also being responsive to the needs of adjacent neighbourhoods.

In the spirit of this project being mutually beneficial for the Sixers and the broader Philadelphia community, 76 Devcorp anticipates partnering with surrounding community development groups to create a Community Benefits Agreement that ensures the forthcoming arena has a positive impact from the start of construction to opening and beyond.