The new arena was announced in January 2025 when the 76ers, who had originally planned to build 76 Place at Market East in Center City, cancelled their plans and partnered with the Flyers to build a new arena to be shared by the two teams inside the existing South Philadelphia Sports Complex.

Under the plan, Harris Blitzer Sports & Entertainment (HBSE) would purchase multiple buildings in the area surrounding the arena site, including the Fashion District Philadelphia shopping mall.

Despite opposition, the Philadelphia City Council approved the arena proposal in December 2024.

Despite gaining approval from city council, plans for 76 Place were dropped after HBSE and Comcast Spectacor announced a deal on January 13, 2025, to build a new arena in the present South Philadelphia Sports Complex instead, with the two ownership groups owning the new arena in a 50-50 joint venture.

[1][2] Additionally, the arena will be constructed with the intent of hosting a WNBA expansion franchise for Philadelphia.