Philadelphia Mayor Cherelle Parker has endorsed a $1.3 billion plan for a new arena, 76 Place, intended to keep the 76ers in Center City. The project, which aims to revitalize a struggling retail area and generate significant tax revenue, has received mixed reactions, particularly from Chinatown residents who fear displacement and job quality issues. Despite opposition, including protests from the Save Our Chinatown coalition, Parker insists this is the best financial deal for the city, promising to work with Chinatown stakeholders moving forward. The 76ers are eager to move from their current venue by 2031, and the city council will soon consider the proposal. Camden, New Jersey, recently offered $400 million in tax incentives to lure the team, highlighting the competitive landscape. Parker's administration emphasizes the potential for economic growth and union job creation, although critics remain skeptical about the project's societal impact.