Major project centered on United Center could transform Chicago’s West Side – NBC Chicago

The owners of Chicago’s United Center have unveiled a plan to dramatically renovate the area around the arena, using $7 billion in private funding.

The 1901 Project was unveiled Tuesday by Chicago Bulls CEO Michael Reinsdorf and Chicago Blackhawks Chairman Danny Wirtz. The families are co-owners of the United Center, home to both clubs since 1994.

According to a press release, the project would “transform the West Side with a jolt of new development, bridging neighborhoods and enhancing opportunities for residents, businesses and all of Chicago.” New green space, housing and a variety of other amenities are all included in the broad scope of the project, officials said.

The project is expected to take 10 years to complete, with construction expected to begin in the spring of 2025. According to the Chicago Sun-Times, there are currently seven phases planned for the project.

Officials hope the project will generate $104 million in annual tax revenue, with a stable annual economic impact of $4.5 billion.

According to the press release, the first phase will transform the parking lots around the arena into new public spaces. A massive park will be created in the spaces currently occupied by parking lots, and a 6,000-seat music venue will be built, as well as up to 10 acres of public green space on top of a new parking facility.

In the initial phase of the project, several hotels and shops will also be built.

In addition to the adjustments in the area of ​​parking around the arena, improvements are also being made in the area of ​​public transport. For example, the use of bicycles, trains and pedestrians is being encouraged to come to the arena and the surrounding developments. This could eventually lead to a mix of homes with a market-conform price and luxury homes in future phases of the project.

Ciere Boatright, communications director for the Chicago Department of Planning and Development, says the idea of ​​creating green and public space where parking currently stands is a breath of fresh air.

“It has the potential to reduce decades of parking lot expansion,” she told the Chicago Sun-Times. “It’s a sea of ​​asphalt … and if you look at it from an economic development perspective, I think it’s an exciting opportunity.”

According to the teams, the first phase of the project could create 4,000 construction jobs and up to 1,900 permanent jobs.

The Chicago City Council and other agencies will have to approve various facets of the project, but Ald. Walter Burnett, whose 27^e The neighborhood where the United Center is located spoke positively about the project.

“I am excited about the investment in the West Side, which is often overlooked for this level of private investment,” he said. “The United Center and its leadership team have been strong and trusted partners, and I look forward to working with them to bring this project to life as we listen to and engage with the community.”