The owners of Chicago’s United Center have unveiled a plan to dramatically reimagine the area surrounding the arena, earmarking $7 billion in private funds for the project.
The 1901 Project was announced by Michael Reinsdorf, CEO of the Chicago Bulls, and Danny Wirtz, chairman of the Chicago Blackhawks. The families are co-owners of the United Center, home of 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 spaces, housing and a variety of other features are all included in the broad scope of the project, according to officials.
The project is expected to take 10 years to complete, with work expected to begin in the spring of 2025. The Chicago Sun-Times reports there are currently seven phases planned in the project.
The hope is to provide $104 million in annual tax revenue from the project, with $4.5 billion in stabilized annual economic impact, according to officials.
According to the release, the first phase will transform parking lots around the arena into new public spaces. A massive park will be constructed on areas currently occupied by parking lots, and will include a 6,000-seat music hall, and will also include up to 10 acres of public green space constructed atop a new parking facility.
A variety of hotel and retail opportunities will also be constructed during the initial phase of the project.
In addition to changes in parking around the arena, transportation enhancements will also be put into place, including encouraging the use of bikes, rail and walking to get to and from the arena and its surrounding developments, which could ultimately include a mix of market-rate and luxury housing options in future phases of the project.
Ciere Boatright, communications director for the Chicago Department of Planning and Development, says the vision of constructing green space and public space on areas currently occupied by parking lots 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 when you take the economic development perspective, I think it’s an exciting opportunity.”
The teams say that phase one of the project could include 4,000 construction jobs and up to 1,900 permanent jobs.
The Chicago City Council and other agencies will have to deliver approvals for various facets of the project, but Ald. Walter Burnett, whose 27th ward is home to the United Center, spoke out favorably of the project.
“I am excited for the investment on 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 alongside them to bring this project to life while listening and engaging with the community.”