Billionaire Michael Rubin Pitches Plan for New 76ers Arena
76 Place, the proposed $1.3B project, is expected to generate $1.9B in economic impact
New arena will be privately funded and located in Center City Philadelphia
Billionaire investor and Philadelphia 76ers co-owner Michael Rubin unveiled plans for a new $1.3 billion arena in Center City Philadelphia on Wednesday. The proposed arena, which would be privately funded, would be located at Market East and would serve as the new home of the 76ers and the Wells Fargo Center.
The new arena, which would be called 76 Place, is expected to generate $1.9 billion in overall economic impact, according to a study commissioned by Rubin. The study also found that the arena would create 1,500 permanent jobs and 3,000 construction jobs.
The 76ers have been playing at the Wells Fargo Center since 1996, but the arena is showing its age. The Wells Fargo Center is also not located in a prime location, as it is not easily accessible by public transportation.
The new arena would be located in Center City, which is a more convenient location for fans. The arena would also be more modern and would have more amenities than the Wells Fargo Center.
The 76ers are not the only team that is looking to build a new arena. The Philadelphia Flyers are also planning to build a new arena in Center City. The Flyers' new arena is expected to cost $1.2 billion and would be located near the Wells Fargo Center.
The construction of two new arenas in Center City would be a major boost to the city's economy. The arenas would create thousands of jobs and would generate billions of dollars in economic impact.
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