Philadelphia Carpenters Support 76ers’ Proposed Center City Arena. Note Creation of Thousands of New Jobs & Transformative Potential To Stimulate Local Growth & Economic Opportunities
Project will be privately funded and be built in collaboration with the community. No local real estate will be eliminated, no existing residents will be displaced
Philadelphia, PA — Inspired by the success of downtown arenas in other cities, the 76ers want to build a new, championship-caliber arena in center city Philadelphia. The proposed arena project is called 76 Place Market East Arena, and would be located in the Fashion District from 10th-11th Streets on Market Street.
“It’s a rare opportunity when a development project the magnitude of the 76 Place Market East Arena comes along, with such a wide expanse of economic benefits and transformative potential for the City of Philadelphia and thousands of local residents. The EAS Carpenters Union strongly supports the 76 Place Arena project because it’s good for our members, good for working families, and good for the city of Philadelphia — which will realize tremendous direct financial benefits, along with substantial indirect economic stimulus across the board,” said William C. Sproule, Executive Secretary-Treasurer of the Eastern Atlantic States Regional Council of Carpenters.
The 76 Place Market East Arena development project will have an estimated $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. In addition the project will create more than 9,000 construction-related jobs along with an additional 1,000 permanent jobs — with robust minority participation goals. The project has the potential to create more than 25,000 additional ancillary construction jobs, plus millions in added tax revenue is anticipated.
Construction of the proposed arena is expected to begin in 2027, with completion in time for the 2031-2032 NBA Season.
The project will be privately funded and is being developed in collaboration with the surrounding communities to ensure the project supports those neighborhoods and promotes economic equity, opportunity, inclusivity, and accessibility. The project does not eliminate any residential real estate or displace existing residents from their homes. The arena serves as a model for equitable & inclusive economic development and will be sustainably built and meet the highest green standards.
“76 Place Arena will be a powerful job creation engine in and of itself, that will also benefit the local tourism and hospitality industries while bolstering other segments of our local economy. It will help expand the creation of good-paying, quality, family-sustaining jobs for years to come. The transformative economic benefits of this new arena will not only be felt in Center City and surrounding neighborhoods, but throughout all of Philadelphia, particularly by our local workforce,” Sproule said.
The proposal for 76 Place Market East Arena is being submitted by the Philadelphia 76ers and Harris Blitzer Sports & Entertainment (HBSE) and the arena is being developed by 76 Devcorp, a partnership between 76ers Managing Partners Josh Harris and David Blitzer and Philadelphia Business Leader David Adelman. 76 Devcorp is collaborating with Mosaic Development Partners, a Philadelphia-based real estate development company certified MBE (Minority Business Enterprise).
The Eastern Atlantic States Regional Council of Carpenters represents over 42,000 of the most skilled carpenters who live and work in Delaware, The District of Columbia, Maryland, New Jersey, Pennsylvania, Virginia, and West Virginia. The union represents over 14,000 in the Delaware Valley. EAS Carpenters are trained in many different trades, including: commercial/residential carpentry; heavy highway; piledriving; floor-layering; mill cabinet work; millwright; and tradeshow construction.