United Center owners unveil $7B redevelopment plan for Near West Side
CHICAGO - A massive $7 billion redevelopment plan has been announced for Chicago’s Near West Side, marking the largest private investment in the area’s history.
The Chicago sports families who own the Bulls and Blackhawks unveiled the ambitious project on Tuesday, focusing on the area surrounding the United Center.
Dubbed "The 1901 Project," a nod to the United Center’s address on West Madison Street, the plan has been years in the making. Businesses connected to the Bulls and Blackhawks have quietly acquired parking lots around the United Center, setting the stage for this transformation.
"We think the time now is right, and the city is ready for it. We're going to do it and do it well," said Chicago Blackhawks Chairman Danny Wirtz.
The Reinsdorf and Wirtz families, co-owners of the United Center, aim to transform the surrounding parking lots into a vibrant entertainment and residential complex over the next decade.
"The 1901 Project is a $7 billion privately funded development that includes housing, retail, entertainment, and public open space on more than 55 acres of privately owned land surrounding the iconic arena campus," stated Chicago Bulls President Michael Reinsdorf.
Construction will begin this spring at the corner of Adams and Damen with a new 6,000-seat indoor music and performing arts theater. The venue is designed for artists who are too big for Chicago's smaller venues but not large enough to fill the United Center.
"The music hall has been delicately and deliberately designed with community inclusivity and cultural richness top of mind," said Wirtz.
Plans also include a 10-acre elevated outdoor park atop a new parking garage. The 1901 Project features a hotel and eventually numerous new homes and condo buildings, capitalizing on the westward march of gentrification.
"The initial planning shows about 5,000 residential units over time. We have committed to a minimum of 20% affordable housing as part of that," said United Center CEO Terry Savarise.
The development proposal requires community input and approval from City Hall, which is expected to proceed smoothly.
"This shift will significantly improve the urban landscape and create a more dynamic community-focused environment for all Chicagoans," said Deputy Mayor Kenya Merritt. "And this project aligns with Mayor Brandon Johnson's administration."
Walter Burnett, alderman of the 27th Ward where the United Center is located, expressed his enthusiasm.
"As a resident, I'm excited to see something happen with these parking lots," said Burnett. "Because after every game, all we see is a whole bunch of lights flashing in our windows driving past."
Meanwhile, the White Sox, also owned by Reinsdorf, have faced criticism for seeking public funding for a new South Side ballpark. Savarise was asked whether public funding for the ballpark is feasible given that the United Center project is privately financed.
"That’s a whole different project with a different set of circumstances, and that's probably something we can talk about at another time," Savarise responded.
Reinsdorf and Wirtz noted that the only public funds required for the 1901 Project might involve a new stop on the CTA's Pink Line to improve transportation to the new entertainment district and residential area.