The Delaware River Waterfront Corporation has selected the Durst Organization to execute a $2.2 billion redevelopment of two prominent parcels along Old City's riparian shore — effectively ending a competing bid by the Philadelphia 76ers to construct a new arena on the site.

https://whyy.org/articles/76ers-rejected-n-y-developer-durst-selected-for-penns-landing-site/#:~:text=The%20Delaware%20River%20Waterfront%20Corporation,new%20arena%20on%20the%20site.