(The Center Square) – Opponents spoke out Thursday morning on the first day of Philadelphia City Council session against a new 76 Place at Market East arena project expected to cost between $1.3 billion and $1.9 billion.
The Save Chinatown Coalition pointed to the failed promises of other recent arena projects across the country, along with added congestion in the area and an economic impact report posted by Mayor Cherelle Parker that was discredited by economists.
The push came following a report that the state of New Jersey has pitched the Sixers on a proposed move to state-owned land in Camden that could include a mixed-use development eligible for two $400 million tax credits. There would be an additional $500 million of special purpose bonds paid off by a tax capture at the site, according to roi-nj.com.
Save Chinatown shared an analysis of tax collection claims from Capital One Arena in Washington, D.C. and Chase Center in San Francisco that showed former comes up 80% short of projections on an annual basis while the latter is 74% shy annually.
“While the Sixers have pivoted to making threats to leave the city of Philadelphia if they don’t get their way and kept politicians busy spinning their wheels, you may have missed the most important news of the week: 69% of voters oppose the arena, and only 12% think it should be a top priority for the Mayor and Council,” said Jenny Zhang, organizer with Asian Pacific Islander Political Alliance. “So our question for City Council and Mayor Parker is: Who do you work for? The people of this city—or the billionaires who own the Sixers?
