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The Philadelphia Phillies are partnering with Comcast Spectacore on the company's planned mixed-use development to revamp the South Philadelphia Sports District.
The project is expected to take several years in two phases. The first phase of development, announced in February and scheduled to begin in 2025, includes upgrades to the 5,000-seat Xfinity Live! concert venue, construction of a hotel, and a shopping and restaurant plaza. The first phase is expected to be completed in 2028.
The second phase is more directly related to the Phillies, who own the property surrounding Citizens Bank Park. The second round of development will include a second hotel, residences, retail, office space and new green space. Within this space will be the Phillies Plaza, where fans will gather on their way to the stadium. The project stretches from the grounds around Citizens Bank Park to the area around Wells Fargo Center. A timeline for Phase 2 has not been made public.
“When you think about what makes Philadelphia unique, it's our incredible fan base and close-knit community,” Phillies Managing Partner and CEO John Middleton said in a statement. ” he said. “This project is focused on expanding the community and attracting more residents, workers and visitors.”
The Phillies' involvement follows a trend of U.S. professional sports teams investing in real estate immediately surrounding their venues. Battery Atlanta (Atlanta Braves), Ballpark Village (St. Louis Cardinals), Titletown (Green Bay Packers), Deer District (Milwaukee Bucks) are four of the most famous mixed-use districts owned by sports teams, and others There are also many districts. MLB teams are exploring the possibility of building their own mixed-use developments.
Comcast Spectacall, the holding company founded in 1974 by Philadelphia Flyers founder Ed Snyder, is the giant cable TV company that assumed full ownership of the venture after Snyder's death in 2016. It is a subsidiary. Spectacor owns the airline now known as the Philadelphia Flyers. The Wells Fargo Center he opened in 1996, replacing the famous but aging Spectrum. The Flyers' co-tenant, the 76ers, is looking to expand into a new arena of their own. In July 2022, Sixers owners Josh Harris and David Blitzer announce a proposal for 76 Place at Market East in Center City, a privately financed venue to open ahead of the 2031-32 NBA season. did.
