Here's a look at the $2.5B makeover plan for the South Philly Sports Complex
PHILADEPHIA (WPVI) -- We're getting a first look at plans for a massive transformation plan at the South Philadelphia Sports Complex. Developers have grand visions like we have never seen before.
Comcast-Spectacor unveiled an ambitious plan for the $2.5 billion overhaul, which would make room for a separate concert venue, a new hotel, plus more restaurants and retail.
The idea is in its early stages but it certainly already has people talking, especially since the Sixers have their sights set on leaving for their own arena in Center City.
Phase 1 will include a new 5,000-plus-seat concert venue for smaller and up-and-coming acts.
More restaurants and retail spaces would be added in addition to enhancements at Xfinity Live!
There are also plans for a new hotel so you would have people staying on site.
The Xfinity Live! upgrades are expected to be finished next year or early 2026, and then the goal is to have the rest of Phase 1 finished by 2028.
So Phase 1 is happening but there's also a Phase 2 in the works, which they are still planning and would need development rights.
The idea is to develop a new district with residences, retail, restaurants and green space, and do this within the next decade if all goes to plan.
However, we should keep in mind that this announcement comes as the Sixers, the largest tenant of the Wells Fargo Center, still plans to build its own arena and move to Center City in 2031.
A spokesperson for 76 Devco said that Comcast-Spectacor did not engage the 76ers directly on the development plans and said, "Although this announcement has no bearing whatsoever on our plans to move to Market East when our lease expires in 2031, we believe it is critical to discuss how development proposals such as this may serve as a catalyst for the future growth of Philadelphia."
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