PHILADELPHIA (CBS) — Philadelphia Mayor Cherelle Parker’s office released independent reports Monday night detailing the potential impacts of the proposed 76ers arena in Center City.

The long awaited The reports focus on community impact, economic impact, traffic impact and design of the proposed $1.55 billion 76 Place arena, which would be located between Market and Filbert streets and between 10th and 11th streets and would replace part of Philadelphia’s Fashion District.

While the planned arena will not “lead to direct displacement of housing,” it could indirectly lead to displacement by accelerating “gentrification and loss of cultural identity in Chinatown,” which lies directly north of the potential site, the report said.

The community report also examined the arena’s impact on businesses and the labor market. Large companies and corporations could benefit from the arena if transportation and safety requirements were met, the report said, but small businesses face “a greater risk” of negative impacts and indirect displacement.

The analysis found that one in five small businesses in Chinatown would benefit from the planned arena, while about half would face negative impacts. The businesses that would benefit are primarily in the entertainment, food and hospitality sectors, according to the report.

The report says that only about a quarter of small business owners in Chinatown also own the properties in which they are located, meaning that for the vast majority, rent increases are inevitable.

“Given Chinatown’s tightly-knit cultural and social network and the incompatibility of many key businesses with the arena, the (proposal) could negatively impact Chinatown’s goals,” the report said. “In other words… Chinatown’s core identity could be significantly weakened or lost.”

Supporters of Chinatown have stated since the proposal was presented that the project would harm their community.

The 76ers have said the arena will create jobs for the area and Residential unitsincluding some affordable housing.

Members of the NAACP Philadelphia Branch said the planned arena would benefit the city’s black community, particularly in terms of job creation.

The community impact report was compiled by BJH Advisors and Sojourner Consulting in collaboration with Urban Partners, AKRF, Dr. Susannah Laramee Kidd and Laureen Hom, and Creative Development Partners.

In a statement, Vivian Chang, executive director of Asian Americans United and member of the Save Chinatown Coalition, said, among other things: “The failure to calculate the financial costs of the arena to Chinatown, other neighborhoods and existing businesses shows how frivolous and flawed these documents are. As we continue to carefully review these documents in the coming days, it will be clear that these are not the studies the community has requested or that the city needs.”

“Let’s be clear: billionaire developers will benefit the most from 76 Place, and these studies are mere window dressing to obscure that fact. Don’t fall for it. The truth is that 76 Place will pay no property taxes. The truth is that wages for Black workers will go down when arenas are built,” Rev. Greg Edwards, POWER Interfaith executive director and member of the Save Chinatown Coalition, said in the statement.

The Save Chinatown Coalition is planning a rally and march downtown on September 7.

A spokesperson for 76 DevCo, the developer of the proposed arena, said in a statement: “We are reviewing what has been published and will have more to say when we have completed a full analysis, but it is already clear that they support what we have said since we first announced 76 Place: The arena is an appropriate use for Center City and will generate significant new jobs and tax revenues because Philadelphia can support two arenas. Our assumptions regarding parking and traffic are feasible and these results are further evidence that 76 Place can be developed in a way that protects our neighbors and maximizes the benefit to Philadelphia.”

76 DevCo is a partnership between 76ers managing partners Josh Harris and David Blitzer and Philadelphia general manager David Adelman.

76 DevCo paid for those reports but was not involved in the investigation, which the city said was conducted by independent third parties. Taxpayer money was not used to fund that investigation, the city said.

Parker’s administration and key stakeholders will now consider next steps regarding the proposal, according to a statement from Parker’s office. A form is available on the city’s website in English, Chinese and Spanish for the public to provide feedback.

Read all the reports on the city’s website.

Further findings

As for the design, consultants said the new arena was appropriate for the downtown area and that they believed arenas benefit downtown areas by attracting crowds.

The report points out that the proposal does not provide an open public space like other inner-city arenas. A square would be an asset to the city and provide a place for large gatherings before and after events.

As for the economic impact, consultants say the arena could host 53 ticketed events annually. The report says the proposed arena would generate about $1.9 billion in direct spending, 710 jobs and $390 million in tax revenue over 30 years of operation.

The economic report states that the Wells Fargo Center would be negatively affected, but the Philadelphia market can support two arenas and both arenas would be financially stable.

To encourage people to use public transport, a travel pass should be included in every ticket, the report says, and large-scale bicycle parking should be planned.

According to the report, traffic flow would be manageable if no more than 40 percent of visitors came to the arena by car. However, additional cars would lead to traffic congestion.

Could the Sixers leave Philly?

Beginning of summer Governor of New Jersey, Phil Murphy confirmed that state leaders were having a “serious conversation” with the Philadelphia 76ers to convince the team to build its new stadium, 76 Place, in the Garden State. In response, the Sixers told CBS News Philadelphia that the team remains “focused on bringing a state-of-the-art arena to Philadelphia” and hopes to open the facility in time for the 2031-32 NBA season.

Governor of Delaware, John Carney It was also posted on social media that the team would be happy to build an arena in Wilmington.