PHILADELPHIA (October 26, 2023) – The Market Street East Improvement Association today has released the results of its independent master plan evaluation of Market Street East and the role the proposed 76ers arena can have on the future of Market East District.
Commissioned by Center City District and conducted by Sasaki & Associates, the impact study assesses the current state of Market Street and outlines a vision for Market Street East focused on diversifying business uses, enhancing access, connecting neighboring communities and creating a vibrant mixed-use corridor that connects Market Street to other iconic destinations across the city.
“Market East has tremendous untapped potential to become an animated, mixed-use, high-density corridor from Independence Mall to City Hall,” said Paul R. Levy, President and CEO of Center City District. “Our shared vision is to transform the street by enhancing existing assets -- including improving transit infrastructure, preserving historic buildings, and accelerating retail, residential and hospitality development. It envisions a fully revitalized Market east that protects and enhances adjacent communities like Chinatown, Midtown Village and Washington Square West.”
According to the study, the proposed 76ers arena can serve as an important catalyst to transforming Market Street into a place where people want to live, work, and play. The vision for Market Street East includes four main objectives:
"We believe 76 Place has the potential to be a major economic catalyst for revitalizing Market East, driving investment in new developments and much-needed streetscape improvements," said Daniel Killinger, President of National Real Estate Development and developer of East Market, a one million square foot development spanning from Market to Chestnut, 10th to 11th streets. “With the proposed arena modifications outlined in the Sasaki study, we are optimistic that 76 Place can enhance neighborhood connectivity, increase visibility and access to public transportation, create significant job opportunities and contribute to the future vibrancy, safety and security of Market Street.”
“The proposed 76 Place arena is the vehicle we need to revitalize Market Street and bring vibrancy and development back to the neighborhood,” said John Connors, President, Brickstone Realty Corporation. “We strongly support the proposed arena and the economic, cultural and recreational impact it will have on the entire region.”
The Master Plan also includes proposed modifications to the current arena proposal that will create more public spaces, improve access to Jefferson Station and provide better connectivity between Chinatown and Market Street.
To download the Sasaki impact study, visit- Market Street East: A Place for All.
To download the Market East Powerpoint Presentation, visit- Vision Plan for the Future of Market East.
About the Center City District
Center City District, a private-sector organization dedicated to making Center City Philadelphia clean, safe and attractive, is committed to maintaining Center City’s competitive edge as a regional employment center, a quality place to live, and a premier regional destination for dining, shopping and cultural attractions.
About the Market Street East Improvement Association
Market Street East Improvement Association was formed by G. Stockton Strawbridge in 1984 to manage the revitalization of the street in the 1980s. Since Market East joined into the Center City District in 1996, the Association has been managed by CCD with board members consisting of other major owners on the street.