The 76ers' stunning reversal on their plans for a Center City basketball arena is another blow for East Market Street, one of downtown Philadelphia’s most beleaguered commercial corridors. Just three days before the 76ers news leaked,

After years of planning and ongoing debate, the planners behind the proposal to bring a Sixers arena to Center City Philadelphia have backtracked on the project. Instead, the team will stay in South Philly.

The deal comes just weeks after a grueling legislative battle in which the Sixers convinced City Council to give it the green light to move to Center City.

The Philadelphia 76ers have reportedly scrapped a controversial plan to build a new arena in Center City, according to reports from the Associated

The Philadelphia 76ers, one of the NBA's charter franchises, will stay in South Philadelphia at the Wells Fargo Center. Here's where it is.

The decision is rooted in a deal struck with Comcast Spectacor, which hopes to transform the South Philly sports complex over the next decade.

The Philadelphia 76ers have abandoned the plans to build a new stadium on Market Street, near Chinatown, and instead have negotiated with Comcast Spectacor to build a new arena in South Philadelphia.

Plans to build an arena for the Sixers in Center City have fallen through, and the team plans to stay in South Philadelphia, sources close to the negotiations say.

In Chinatown and South Philadelphia, restaurateurs seem cautiously pleased with the news that the Sixers have scuttled their plan to build an arena in Chinatown and now intend to construct a new complex in South Philly.

Less than two weeks into the new year, the Sixers delivered "a curveball that none of us saw coming," Mayor Cherelle Parker said at a press conference Monday. Why it matters: The team's new deal with Comcast Spectacor to build a South Philadelphia arena and entertainment complex shakes up plans to redevelop Market East,