On the 20th anniversary of the demolition of Veterans Stadium, the Phillies have voiced support for a plan to develop on the old site.
In a press release Thursday morning, the Phillies joined Comcast Spectacor, the corporation that owns the Philadelphia Flyers, in its plan to transform the South Philadelphia Sports Complex.
“When I think about what makes Philadelphia unique, it’s our incredible fan base and tight-knit community. This project focuses on expanding that community and bringing in more residents, workers and visitors,” Phillies managing partner John Middleton said in a statement. “With the creation of new spaces and experiences, Philadelphians and visitors will have more opportunities to celebrate the passion and pride we have for our city and our teams.”
The mixed-use development plan is estimated to cost $2.5 billion and is split into two phases. Phase one involves development within the lots between Wells Fargo Center and Pattison Avenue and includes renovations to Xfinity Live!, a new 5,500-seat concert venue, a hotel, shops and an outdoor plaza. Phase one, according to the Philadelphia Inquirer, will be privately funded by Comcast Spectacor and a “number of investment partners.” Phase one of the project is expected to be completed in 2028.
Phase two centers around the lots between Broad Street and Citizens Bank Park where the Vet once stood along with more development within the existing Wells Fargo Center lots, is more expansive and requires city, state and the local neighborhood’s approval. Residential units, restaurants, office space, more retail space and an additional hotel are planned for phase two.
Also included in the plans is a “Phillies Plaza” for fans to gather before games at Citizens Bank Park. Space for a new indoor arena for the Flyers is also included in the phase two renderings.
The Phillies and Comcast Spectacor will work together to obtain the approvals necessary to move forward with phase two.
Owners across baseball are angling to replicate the success of the Atlanta Braves’ mixed-use development project in Cobb County and build around their ballparks. The Braves, the only publicly traded team in baseball, estimated to take in $59 million in revenue in 2023 from “The Battery Atlanta,” a complex adjacent to Truist Park that holds shops, restaurants, residences and a concert venue.
As far as parking goes, Wells Fargo Center president Phil Laws told the Philadelphia Inquirer that the new project will add, not subtract parking in the complex. Much of the surface parking spaces impacted by the project are expected to be replaced with structured parking, or parking garages. Laws estimates that once the project is completed, the Sports Complex will add 2,000 parking spots to the estimated 22,000 spaces currently available.
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Lou C
March 22, 2024 at 10:37 am
Development of the area was inevitable but exiting parking structures after games will likely be a nightmare. I’m also wondering how many folks will want to live in the buildings that are part of this complex, especially when there are multiple events and large crowds in the area. The concept is exciting but it will likely complicate trying to attend an event in the stadium area.