Chicago’s NBA Bulls and NHL Blackhawks owners unveiled an ambitious $7 billion plan on Tuesday. This initiative aims to transform the parking lots surrounding the United Center into vibrant green spaces, residential areas of varying income levels, a concert hall, and additional facilities.
Dubbed the 1901 Project, this is anticipated to be the largest private investment in the West Side of Chicago. Spearheaded by the Reinsdorf and Wirtz families, who own the arena, the project will unfold over a decade on more than 22 acres of privately owned land.
Should the city approve the plans, construction could begin in the second quarter of 2025.
“The 1901 Project reflects our families’ commitment to the future of the West Side of Chicago,” stated Michael Reinsdorf, the Bulls’ CEO, in a press release. “This investment will create a thriving, interconnected neighborhood that brings significant benefits and resources to the community we have called home for many years.”
The first phase of the project includes a 6,000-seat theater, a multi-level parking structure topped with over 10 acres of public green space, pedestrian-friendly sidewalks, bike lanes, and space for hotels and retail shops.
Future phases are expected to incorporate housing options that cater to a range of needs, including affordable units, market-rate properties, and luxury apartments. Additionally, plans for transportation improvements are also on the table.
“This is just the beginning; we have already begun engaging with our neighbors and community partners to identify opportunities for collective wealth creation stemming from this private investment,” remarked Danny Wirtz, CEO of the Blackhawks, in a statement. “We have a once-in-a-lifetime opportunity to expand a legacy that will make all of Chicago proud.”
For more details on the progress of this transformative project, stay updated here.
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