Chicago sports giants the Reinsdorf and Wirtz families yesterday unveiled their plans to transform the 55 acres surrounding the United Center — home of the NBA’s Chicago Bulls and NHL’s Chicago Blackhawks — into a $7 billion mixed-use campus.
If approved, the development would be the largest private investment in Chicago’s West Side neighborhood.
The project is formally known as the 1901 Project. Michael Reinsdorf, chief operating officer of the Bulls, and Danny Wirtz, chief executive officer of the Blackhawks, are heading the proposal.
Don’t, though, expect any big changes to the United Center neighborhood anytime soon. The Chicago Sun-Times yesterday reported that Chicago officials still need to approve the proposal. And if that approval happens? The Sun-Times reported that construction of the development would take an expected 10 years.
The mixed-use development would bring mixed-income housing, a music hall, green spaces, a hotel and retail to the area. WBEZ Chicago reported that construction of the project will take place over seven phases. If the project is approved, construction on the first phase could begin as early as next year.
The project includes a more than 10-acre elevated urban design strategy created by RIOS, a design collective.
“The 1901 Project represents a continuation of our families’ commitment to the future of Chicago’s West Side,” Michael Reinsdorf said in a press release. “This investment will create a thriving, interconnected neighborhood, delivering significant benefits and resources to the community we have long called home.”
WBEZ said that the development is expected to create about 63,000 construction jobs, 12,000 permanent jobs and about $4.5 billion in annual economic impact. It is expected to generate $104 million in annual tax revenue.
“The vision for The 1901 Project is to bring impactful investment and economic opportunity to the West Side that complements and supports its rich history and galvanizes its vibrancy,” Danny Wirtz said in a press release. “We aim to create a development alongside our neighbors to deliver jobs, housing, commerce and community resources, creating a more prosperous future for all residents.”
The United Center has been a hub of activity on Chicago’s West Side since opning in the summer of 1994. More than 70 million fans have visited the entertainment facility since its opening. The United Center hosts more than 200 events each year.
