CHICAGO (WBBM NEWSRADIO) - United Center owners have unveiled plans for the largest private investment on Chicago's West Side.
The "1901 Project" will be spearheaded by Bulls President and CEO Michael Reinsdorf and Blackhawks Chair and CEO Danny Wirtz.
Reinsdorf said the plan builds off of what was originally his father and Wirtz's father's idea of turning current parking lots into a mixed-use campus around the arena.
"The 1901 Project represents a continuation of 100 years of combined commitment by our families and partners to invest in the West Side. Our hope is to create a thriving, interconnected neighborhood delivering significant benefits and resources to the community we have long called home,” Reinsdorf said.
Witz said the $7 billion plan will take an estimated 10 years to complete, starting with phase one next spring.
"Starting with the 6,000 seat music hall and performing arts center located on the northeast corner of Damen and Adams street, phase one will also include the dual purpose of our United Center parking needs by including more than 10 acres of elevated parks and green space on top of the parking structures,” Wirtz said.
The project will also provide transportation enhancements, including the addition of a CTA train station.
Phase one would create 4,000 construction jobs, 1,900 permanent jobs and $275 million in annual economic impact.
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