Findings released for 4 impact studies on proposed 76ers arena in Center City

The City of Philadelphia released the findings of four impact studies that analyzed the proposed 76ers arena, 76 Place, on Monday night.

If it's built, 76 Place would be at Market East bordering Chinatown.

The four reports include a community impact assessment, an economic impact analysis, a design consulting, and a traffic, transportation, and parking analysis.

"We are sharing these detailed reports so that the public can better understand the implications of such a multifaceted proposed project for Philadelphia," Mayor Cherelle Parker wrote in an online statement.

Initial analysis suggests that over time the arena could generate roughly $1.9 billion, 700 new jobs, and $390 million in new tax revenue.

However, the plan continues to face fierce opposition from within the city .

Vivian Chang, executive director of Asian Americans United and member of the Save Chinatown Coalition, sent the following statement to Action News:

"That the Sixers bankrolled these studies, and failed to disclose that fact from the jump, says everything you need to know about their credibility. The economic analysis was completed by a consultant with a track record of faulty data and false projections in Philadelphia. The failure to calculate the financial cost of the arena to Chinatown, other neighborhoods, and existing businesses tells you how unserious and flawed this paperwork is. As we continue carefully reviewing these documents in the coming days, it is clear these are not the studies the community asked for or the city needs."

While the findings did not mention monetary impact, studies suggested that Chinatown's core identity could be significantly diminished or lost, as many small businesses and low or fixed-income households could be displaced by gentrification.

"The impact study states that the Project may place additional stress on existing vulnerabilities. The summary of the study did not identify benefits to Chinatown," John Chin, executive director of the Philadelphia Chinatown Development Corporation, said in part on the study.

Action News reached out to Philadelphia City Council and Councilmember Mark Squilla, who represents the area.

He said he was not prepared to make a statement yet but in the past, Squilla said he could support the project.

"I'm still not sure, based on the impacts of the surrounding communities. I could support it, yes," he previously told Action News.

The Save Chinatown Coalition has said it is planning a march and rally at City Hall next week to protest the proposed arena.

To read the full findings on each impact report, visit phila.gov .