Findings released for 4 impact studies on proposed 76ers arena in Center City

PHILADELPHIA (WPVI) -- The City of Philadelphia released the findings of four impact studies that analyzed the proposed 76ers arena, 76 Place, on Monday night.

The plans calls for 76 Place to be located at Market East bordering Chinatown. The team hopes to open it by 2031.

The four reports include a community impact assessment, an economic impact analysis, a design analysis, plus a traffic, transportation, and parking analysis.

"We are sharing these detailed reports so that the public can better understand the implications of such a multifaceted proposed project for Philadelphia," Mayor Cherelle Parker wrote in an online statement.

The newly released studies evaluating the proposed 76ers arena on Market Street are several months overdue and nearly 400 pages long.

The impacts on Chinatown and the Market East corridor are a major focus.

The studies revealed that the economy could see more than $1 billion in revenue from the arena. Initial analysis suggests that over time the arena could generate roughly $1.9 billion, 700 new jobs, and $390 million in new tax revenue.

The tax revenue will be split between the city, state and school district over a 30 year period.

Chinatown is a car-dependent community, and the consultants found that traffic could be a bigger problem during peak hours. One suggestion is to provide free transit tickets on SEPTA and PATCO with each event ticket to help reduce the number of cars.

Third-party consultants found that one out every five businesses in Chinatown could benefit financially from an arena.

On the other hand, the studies also revealed that the project could drive up prices, leading to small businesses and low-income families being priced out, which consultants say is already happening.

Consultants used existing arenas in Brooklyn, Sacramento and Washington D.C. as examples in the report.

Councilman Mark Squilla represents this area. His office wasn't prepared to make a statement as he reviews the report.

The plan continues to face fierce opposition from within the city.

Vivian Chang, executive director of Asian Americans United and member of the Save Chinatown Coalition, sent the following statement to Action News:

"That the Sixers bankrolled these studies, and failed to disclose that fact from the jump, says everything you need to know about their credibility. The economic analysis was completed by a consultant with a track record of faulty data and false projections in Philadelphia. The failure to calculate the financial cost of the arena to Chinatown, other neighborhoods, and existing businesses tells you how unserious and flawed this paperwork is. As we continue carefully reviewing these documents in the coming days, it is clear these are not the studies the community asked for or the city needs."

Those opposing the arena will hold a march and rally on September 7 at 1 p.m. at City Hall.

To read the full findings on each impact report, visit phila.gov.