The Philadelphia 76ers have recently announced their plans for a $1.3 billion mixed-use stadium complex in Chinatown. The design, developed by Gensler and 76 DevCo, features a 20-story residential tower. The proposed location, situated at the corner of Market Street and 10th Street, is conveniently accessible via public transit at SEPTA’s Jefferson Street Station. However, this proposal has faced criticism from the Philadelphia Chinatown Development Corporation, who have expressed their concern that it could pose a threat to the future of Chinatown.
In response to this concern, the 76ers have revised their plans and issued a new proposal. The updated design includes a 20-story residential tower that will be constructed on the site of a former Greyhound Bus Station. This new tower will accommodate 395 housing units, including 79 affordable housing units at below-market rates. The total cost of the project has now increased to $1.55 billion due to an additional $250 million in private investment since June.
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