The owners of Chicago’s United Center indoor arena announced plans for a $7 billion, 55-acre mixed-use campus around the property that will include housing, a 6,000-seat music hall, a park and pedestrian-friendly spaces.
The Chicago Sun-Times reported the plan, dubbed “The 1901 Project,” is part of a 10-year development project that would become the largest private investment in the city’s West Side. Construction could begin as early as 2025. The project is expected to create an estimated 63,000 construction jobs, 12,000 permanent jobs and $4.5 billion in annual economic impact, as well as $104 million in annual tax revenue – and unlike recently announced plans for a new stadium to host the Chicago Bears, this project would not seek any public funding.
The housing element of the plan is still being determined, with the United Center’s ownership stating it would span “various unit sizes and includes affordable, market rate and luxury.” The plan may also be expanded to include a hotel and retail stores.
The United Center is home to the NBA’s Chicago Bulls and the NHL’s Chicago Blackhawks, and welcomes 3 million guests each year for a variety of sports and entertainment events. Next month, the venue will host the 2024 Democratic National Convention. The new plan does not include upgrades to the arena.
“We think that this project is going to send a powerful, positive message to the world, and it’s going to showcase how Chicago and Illinois continue to set new standards in partnership, architecture, community commitment, growth — all on the heels of what we know is going to be a successful convention,” said United Center CEO Terry Savarise.
Photo: An artist’s rendering of the proposed plan, courtesy RIOS.
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