A week after a city-sanctioned report cast doubt on the economic benefits of the Philadelphia 76ers’ proposed facility in Center City, the team received a written proposal from the state of New Jersey detailing a transformative arena project in Camden that the team could own and operate, should it choose to relocate to New Jersey.
It is a proposal that the Sixers will look at seriously, a team spokesperson told ROI-NJ.
“We have worked tirelessly for the past five years to build an arena in Philadelphia, and negotiations remain ongoing with city leadership regarding our proposal at Market East,” the spokesperson said. “The reality is, we are running out of time to reach an agreement that will allow the 76ers to open our new home in time for the 2031-32 NBA season.
Read more from ROI-NJ:
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- Business leaders fully behind push to bring Sixers to Camden
- Scutari, Coughlin, Sarlo, Greenwald offer strong support for effort to bring Sixers to Camden
- Camden’s Carstarphen sees Sixers relocation as culmination of city’s effort to transform itself
“As a result, we must take all potential options seriously, including this one.”
The proposal, first reported by ROI-NJ on Monday night, came in an email from Tim Sullivan, the CEO of the New Jersey Economic Development Authority, that was sent to Tad Brown, CEO of Harris Blitzer Sports & Entertainment, the parent of the Sixers. It detailed how the state would make land available on a former state prison site area that is adjacent to the Delaware River and north of the Ben Franklin Bridge.
The project, which would be self-financed by HBSE, would also include a mixed-use component, bringing commercial, residential and retail space to the area. The land would be transferred to HBSE at little or no cost.
Because the project would contain both an arena and a full-scale mixed-use component, HBSE could be eligible to receive two Aspire tax credits worth up to $400 million each.
In addition, the Governor’s Office is eager to work with the Legislature to enable the structuring of up to $500 million of special-purpose bonds supported by fees and surcharges on tickets, concessions and parking (meaning there would be no impact to New Jersey taxpayers) to support the development of an arena.
The proposal was not a surprise. Officials from the Sixers have been meeting regularly with officials from New Jersey on a regular basis, as first reported by ROI-NJ.
The team has said in the past that it wants to open a new facility for the 2031-32 season (or after its current lease at the Wells Fargo Center expires). To do so, team officials said they would need to begin construction in 2025 — and likely need to get approvals by the end of this year to meet that timeline.
And, although the team has had a 125,000-square-foot corporate headquarters and practice facility in Camden since the fall of 2016, Sixers officials have maintained for years that their goal was to find a spot for a new arena in Philadelphia.
It’s unclear if that desire is changing. But it is clear that the Sixers’ proposal to build 76 Place, a $1.3 billion project in the Fashion District/Chinatown area of Philadelphia, faces opposition.
On Aug. 27, the office of Philadelphia Mayor Cherelle Parker released independent reports that questioned the potential impact of the proposed arena in Center City (between Market and Filbert streets and 10th and 11th streets).
The report said the proposed arena would not “lead to direct housing displacement,” but it could indirectly displace people by accelerating “gentrification and loss of cultural identity in Chinatown.”
The report also said small businesses are “at a greater risk” of negative effects and indirect displacement.
The Sixers spokesperson would not speculate on next steps, but did express gratitude for the letter.
“We appreciate Gov. Murphy and the NJEDA for presenting a thoughtful and compelling vision for the revitalization and economic growth of Camden, a city we are already committed to through our training complex,” the spokesperson said.
