Penn Valley Billionaire Developer on Ambitious Center City 76ers Complex Project; ‘I’ll Figure it Out!’

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drawing of a building
Image via 76 Devcorp at Philadelphia Magazine.
Artist's rendering of a Center-City arena for the Phila. 76ers.

David Adelman, Penn Valley resident, continues his full-court-press effort to transform part of Phila.’s sagging fashion district into the Sixers’ home court. David Murrell reported his progress on the $1.3 billion vision in Philadelphia Magazine.

Adelman established his real estate bona fides in 1994, as landlord of Campus Apartments in University City.

His ongoing strategic reputation with Phila. real estate melded well with the 2020 idea to rehome the Sixers.

The notion that a new home might be emerging as a necessity had several roots: The 76ers’ existing South Phila. court, in use since 1996, wasn’t aging well. And its utility was compromised by the Sixers status as tenants (not owners) and the logistics of sharing the space with the Flyers.

Adelman’s boarded the project with distinct advantages: a local guy with a successful record and a deep sense of fandom for the team.

The road ahead, however, is proving to be no fast break to success.

The intended building’s Chinatown neighbors are nervously cautious about its long-term impact. Adelman has been working to assuage those concerns.

Even his family members expressed skepticism along the way. Is he was up to the massive task?

When questioned on that point, Adelman replied, “I’ll figure it out!”

He continued: “I’ve built apartments; I’ve built hotels; I’ve built retail. I’ve done all the components of this.

“Why not me?”

More on David Adelman’s Sixers project is at Philadelphia Magazine.

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