The state of New Jersey is offering the Philadelphia 76er tax incentives to move their proposed $1.5 billion arena across the river to Camden, ROI-NJ reports.
The state is offering land it already owns for a mixed-use development that would include not only the arena, but commercial, residential and retail space.
The current proposal pushed by the team would open a sports facility on the border of Philadelphia’s Chinatown. It has strongly been opposed by Chinatown businesses and residents citing traffic and gentrification concerns.
The latest proposal from New Jersey has the backing of Gov. Phil Murphy and the state legislature. It includes two tax credits of $400 million each.
A new report released late last month found that the Chinatown location “could potentially result in the loss of Chinatown’s core identity and regional significance,” reported WHYY.
It pointed out the project could lead to displacement of small businesses and increased traffic and rents.
The 76ers told the Bleacher Report it is “seriously” considering the New Jersey option as well as its existing proposal.
“The reality is we are running out of time to reach an agreement that will allow the 76ers to open our new home in time for the 2031-32 NBA season,” 76ers spokesperson Molly Mita McEndy reportedly wrote in an email. “As a result, we must take all potential options seriously, including this one.”
The 76ers say construction permits from both the city of Philadelphia and the state of Pennsylvania must be approved this year if construction is to be finished by 2031, when the team’s current lease expires.
Pennsylvania Gov Josh Shapiro says he loves the team. “They belong in Philadelphia,” ESPN quoted him as saying.
Chinatown community leaders in Philadelphia are planning a march and rally on Saturday demanding that the “no arena in the heart of our city.”
A new poll of 704 registered voters released today by the Save Chinatown Coalition found 56% opposed the Chinatown arena plan and 18% supported it. Brilliant Corners Research and Strategies conducted the poll.
AsAmNews is published by the non-profit, Asian American Media Inc.
Happy Lunar New Year. We are now 40% of our goal of meeting our $5,000 matching grant challenge with less than 8 full days to go. Every donation will be matched dollar for dollar through February 16 up to $5,000. All donations will go toward fully funding an editor position at AsAmNews and to support our reporting. You can make your tax-deductible donations here via credit card, debit card, Apple Pay, Google Pay, PayPal and Venmo. Stock donations and donations via DAFs are also welcomed.
Please also follow us on Instagram, TikTok, Facebook, YouTube and X.
