A sudden reversal in plans to move the 76ers' arena to near Philadelphia’s Chinatown has left activists breathing a little easier while still feeling some distrust.

The Philadelphia 76ers are staying in South Philadelphia in the latest -- and likely final -- twist in their quest to build a new arena. The Josh Harris-owned 76ers and the NHL's Flyers (owned by Comcast Spectacor) made an announcement Monday morning that the two teams will continue sharing a home in the South Philly Stadium Complex and will build a new arena slated to open by 2031 in a "50-50 joint venture.

New Jersey had pitched a massive, multibillion-dollar mixed-use development and arena project on the Camden waterfront for the HSBE-owned team that also came along with generous incentives of up to $800 million in tax credits and up to $500 million of special purpose bonds.