Officials say it will be funded by the project's developers.
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The new arena, dubbed '76 Place,' would be built on the 1000 block of Market Street next to the city's Chinatown neighborhood.
Residents who live in the area have shown strong opposition to the project.
READ | PCDC announces formal opposition to proposed 76ers arena in Center City
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Their top concerns include the deterioration of Chinatown culture, parking and traffic congestion, and increasing rent.
The three upcoming studies will focus on the impact on the community, an analysis of the economic impact of the stadium, and design aspects of the arena.
Should the project go through, officials say construction will start in 2027 with completion in time for the 2031-2032 NBA Season.