The Philadelphia 76ers and Comcast are planning to raze most of the buildings on the south side of the 1000 block of Market Street within a year, which is the first major step since they acquired the Center City properties for redevelopment, writes Paul Schwedelson for the Philadelphia Business Journal.
The Sixers and Comcast aim to complete the demolition of retail buildings in the area before Philadelphia hosts the FIFA World Cup, the MLB All-Star Game, and the 250th anniversary celebrations of the United States in 2026.
A second demolition phase would include a portion of the 900 block of Market Street and would take place after next summer.
According to Sixers spokesperson Jacklin Rhoads, long-term development plans for both blocks are currently being considered.
“The demolition of these vacant storefronts improves the streetscape and will give us the ability to work with community partners to activate the site ahead of groundbreaking,” said Rhoads.
Local politicians and business leaders are hoping to see a mixed-use project that include both residential and ground-floor retail space.
The demolition work will be handled by Norristown-based contracting firm, Pride Enterprises.
Read more about the demolition plans for Market Street in the Philadelphia Business Journal.
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