Retailer Macy's is closing its store on Market Street in Center City, Philadelphia City Council member Mark Squilla said Thursday.

Officials believe the mixed-use redevelopment will be ready before the Sixers arena opens down the street in 2031.

The Macy's department store in Center City Philadelphia will be closing its doors for good, a spokesperson for Councilman Mark Squilla told Action News.

What you should knowMacy's announced to employees it is closing its Philadelphia store in Center City, which has been open since 2006.The location is expected to close sometime in March, one of 65 Macy's locations that will be closing this year as part of a cost-savings initiative.

Philadelphia's iconic Center City Macy's store is closing its doors in March, leaving many to wonder what will happen to the historic building and the traditions attached to it.