76ers’ effort to build new arena downtown gets leverage help from New Jersey

2024 NBA Playoffs – New York Knicks v Philadelphia 76ers

Getting a new NBA arena built is difficult — even if the team’s owner has Steve Ballmer-level money. Or is Steve Ballmer. It took a decade for him to do it — the Clippers’ new Intuit Dome arena just opened and will host the team next month — and Ballmer had to find a cooperative local city government (Inglewood), get some friendly legislation, buy a competing building then promise not to tear the current concert venue down (the Forum, former home of the Lakers), and then get the building constructed on a tight schedule.

The Philadelphia 76ers want to move out of the Wells Fargo Arena in Philadelphia when their lease is up in 2031 and the clock is ticking. Last week, the City of Philadelphia released a series of reports — which are a required part of development — detailing predictions on how a proposed arena in Downtown, a block from Chinatown, would impact parking, traffic, neighborhoods and more. Those reports contain concerns about parking and traffic if the public transit goals for people going to the venue are not met. There is also an organized residential group in the Chinatown area that opposes the development.

This week, the 76ers got leverage in their efforts to get the building approved from an unexpected source: Camden, New Jersey — a city just across the Delaware River from Philadelphia. New Jersey Governor Phil Murphy sent a letter to the 76ers — not so coincidentally a letter made public — offering up to $400 million in tax credits and saying a new arena could be part of a mixed-use waterfront development in Camden, just across the river from Philly.

76ers ownership knows leverage when they see it. Here is what team spokesperson Molly Mita McEndy said in an email to the Associated Press:

“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. As a result, we must take all potential options seriously, including this one.”

Pennsylvania Governor Josh Shapiro said he has not been asked for tax incentives for the 76ers’ new building, nor has…

Source link : https://sports.yahoo.com/76ers-effort-build-arena-downtown-154905979.html

Author : NBC Sports

Publish date : 2024-09-04 15:49:05

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