Sixers Going To Build Brand New $1.3 Billion Arena In Center City

The Philadelphia 76ers have played at the Wells Fargo Center since 1996, sharing the building with the NHL’s Philadelphia Flyers. Most recently, the Sixers have looked to find a basketball-only arena, and they were denied in the Penn’s Landing area, but it seems like they have finally found a spot.

On Thursday morning, the Sixers announced that they are going to build a $1.3 billion arena in the Center City area of Philadelphia. They would be leaving the stadium district in South Philly and will be moving downtown to what is called the Fashion District.

Per NBC Philadelphia:

“The Philadelphia 76ers are a storied Philadelphia institution with a proven track record of investing in their community. That’s why we’re committed to building a world-class home in the heart of the City and creating a privately-funded arena that strengthens ties within the local community through investments that prioritize equity, inclusivity and accessibility,” Harris said in a statement.

The arena would generate $1.9 billion in overall economic output during construction and $400 million annually upon opening, the Sixers said.

This is a big step forward for the Sixers as they continue their search for their own home. The Wells Fargo Center is a nice spot and it is convenient for fans, but to have their own arena strictly for basketball would be a big help for them.

This post originally appeared on Sixers Wire! Follow us on Facebook!