76 Place: Philadelphia 76ers announce plan to develop new privately-funded arena in Center City

PHILADELPHIA - The Philadelphia 76ers are set to get a new home in Center City. According to a press release, the team's managing partners, Josh Harris and David Blitzer, announced the creation of a new development company called 76 Devcorp, which will be responsible for developing "the future home of the Philadelphia 76ers." The project will be led by Philadelphia business leader David Adelman and Harris Blitzer Sports Entertainment and will pursue the privately-funded sports and entertainment area called 76 Place. "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," Managing Partner Josh Harris said. "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 was selected to lead the project because of his accomplishments in real estate in Philadelphia and throughout the nation.

The Philadelphia 76ers have announced plans to develop a new arena in Center City.  "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," Adelman said. "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.