CAA ICON, an industry leading sports and entertainment consultant, performed a market study that analyzed key demographic and supply/demand metrics for Philadelphia as compared to other peer cities. Its analysis, which was supplied to the City for independent review, estimates that the arena would host approximately 150 event days per year. Live Nation, Feld Entertainment and The Azoff Company – three industry leaders all of whom book major acts and events in Philadelphia and across the world –
have all agreed the market is underserved and can support two arenas. Further, the ground floor retail and residential building would be open year-round, creating jobs even on non-event days. Finally, the additional development along the East Market Street corridor, which is expected to be catalyzed as a result of 76 Place, would create additional year-round employment.
