Comcast and the Philadelphia 76ers are no strangers to working together, and their latest partnership is part of an effort to revitalize the struggling Market East corridor in Center City, writes Aaron Moselle for WHYY.
The two entities recently got together to acquire the 920-938 Market Street and 1000-1024 Market Street properties, respectively.
According to Sixers spokesperson Jacklin Rhoads, the acquisition of the four parcels of land cost $56 million.
Both properties are located across the street from the Fashion District.
While the specific details about what the plan is with the properties, chairman of the venture David Adelman said plans will be developed and shared in the coming months.
“Since announcing our partnership, both the 76ers and Comcast have been clear and consistent: We want to be part of the process to re-energize East Market Street, once America’s premier commercial corridor and the bridge between City Hall and Independence Hall,” said Adelman in a statement.
In addition to this transaction, the city is also preparing to begin its own unrelated efforts to revitalize Market East.
Read more about Comcast and the Sixers’ latest venture, as well as the past and future of the Market East corridor at WHYY.
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