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PHILADELPHIA — The Philadelphia City Council has approved a proposal from Harris Blitzer Sports & Entertainment, which owns the NBA’s Philadelphia 76ers, to build a new arena in the downtown area. Valued at $1.3 billion and known as 76 Place, the arena will be located at the site of Fashion District Philadelphia, a shopping, dining and entertainment destination on Market Street. The proposal for a new 76ers arena was conceived several years ago but has subsequently faced opposition from a variety of community leaders and organizations, most notably those in neighboring Chinatown. According to The Philadelphia Inquirer, the team is now targeting the 2031-2032 season to commence play at the new arena.