76 Place impact report shows potential economic boom with grave consequences for community

PHILADELPHIA (KYW Newsradio) — Reports on the impact of the Sixers’ proposed new arena are out. They detail a major new revenue source for the city but at the expense of one of its most storied communities.

Four reports, completed by a third party but funded by the developers of 76 Place , were released on Monday.

The impact of arena construction on Market East was inconclusive. However, it found a potential spending boom of $1.9 billion over the next 30 years along with $390 million in new tax revenue and more than 700 new jobs.

As for Chinatown, it found grave consequences for the community — car congestion, gentrification, and the loss of cultural identity as small, ethnic-owned businesses move away.

The report also showed that one-fifth of all small businesses in Chinatown stood to benefit from the arena’s presence, but half of them would be negatively impacted.

The traffic report said a lot more planning was needed to support public transit to 76 Place, as even a marginal increase in people driving to events would gridlock the streets surrounding the arena.

The design report found major concerns because there was no public gathering place outside the arena for people ahead of events listed in any of the plans.

“Our community is, like, literally on the edge, so if this arena comes in, that tips us over,” said Vivian Chang, with Asian Americans United, one of the leaders of the Save Chinatown Coalition .

She was among a group of arena opponents who met with Mayor Cherelle Parker ahead of the release.

She said they were not expecting the reports to drop and questioned their intention given how they were funded.

“It’s just a little concerning, about who is this for? Is this concern for Chinatown and the rest of Philadelphia,” Chang said, “or is it really about what the developers are pushing and wanting?”

The Sixers told KYW they would not comment on the reports until they review them, but a spokesperson said “it is clear already that they support what we’ve said since we first announced 76 Place: The arena is an appropriate use for Center City and will generate significant new jobs and tax revenue because Philadelphia can support two arenas. Our parking and traffic assumptions are achievable and these findings are more evidence that 76 Place can be developed in a way that protects our neighbors and maximizes benefits to Philadelphia.”

Parker said the reports were released so the public could “understand the implications of such a multi-faceted proposed project for Philadelphia.”