Owners of the team hope to get city council's approval for the downtown site by year's end so they can open the arena by 2031

The 80-page agreement contains details about Philadelphia's economic plan, its commitment to Chinatown and more.

The city projects this will generate over $700 million in new tax revenue, along with the creation of over 1,000 jobs.

On Sept. 26, the grassroots group No Arena Gayborhood held a press conference at City Hall to oppose the proposed 76 Place arena, which they believe poses a direct threat to Philadelphia's historic Gayborhood.

Vivian Chang works on a narrow Philadelphia street that would have been consumed by a Phillies stadium had Chinatown activists not rallied to defeat the plan in the early 2000s. Instead of 40,000 cheering fans,

Vivian Chang works on a street where Phillies stadium plans crumbled in the 2000s. Debbie Law's family moved its store when rent tripled after the 76ers' plans were announced.

The diaspora enclave was founded 1871, and has resisted and suffered gentrification and development before Vivian Chang works on a narrow Philadelphia street that would have been consumed by a Phillies stadium had Chinatown activists not rallied to defeat the plan in the early 2000s.

Students and many immigrants would be affected if the work is done, they say. Vivian Chang works on a narrow Philadelphia street that would have been consumed by a Phillies stadium had Chinatown activists not rallied to defeat the plan in the early 2000s.