T
he city of Philadelphia is embroiled in a debate over whether a new Sixers arena should be built downtown, with plans that include constructing more than 1,000 homes nearby. Initially, the team proposed a 395-unit tower above the arena, but the latest proposal unveiled by Mayor Cherelle L. Parker's administration includes an additional 720 homes on Market Street.

    The City Councilmember for the area, Mark Squilla, is working with developers to remove the 395-unit tower from the plan, citing concerns from Chinatown neighborhood groups who see it as a concession with little value. The group strongly opposes the arena and believes the tower is being used as a bargaining chip.

    Meanwhile, Redfin's analysis shows that homebuyers in the Philadelphia area need significant raises to afford the typical home for sale. In August, the income needed to buy a home increased by 6% compared to last year, with local buyers having to spend more than a third of their incomes on monthly payments.

    Other news includes a lawsuit against the Philadelphia Sheriff's Office over property auctions and a proposed apartment building in Mount Airy facing opposition from neighbors. Additionally, Philadelphia's office buildings have lost over $1 billion in assessed value, and a new outdoor space is being built in Strawberry Mansion to serve as a community hub for arts and culture.

    In other real estate news, the seaport is considering purchasing 150 acres from a railroad company as part of its expansion plans. A historic Victorian rowhouse in Fairmount is on the market for $799,500, and local framing shops are offering custom framing services with varying prices and services.

    A home transformation in Wayne features a family who turned their formal dining room into a music room, creating a lounge vibe with a chaise, artwork, and drapes. The family also redecorated the living and family rooms as part of their 2022 renovation.