The Near West Side of Chicago is poised for a monumental overhaul after the families behind the city's storied United Center, home to the Chicago Bulls and Blackhawks, revealed detailed plans for a massive $7 billion redevelopment project. Termed the 1901 Project, the ambitious initiative aims to transform the current scape dominated by parking lots into a revitalized neighborhood with abundant green spaces, housing, and a new music venue, according to information obtained by NBC Chicago.
Overseen by United Center CEO Terry Savarise, the project is projected to span 10 years with private funding at the forefront, although it acknowledges potential for government investment in crucial transport updates like a new CTA Pink Line station. While the first phase is expected to kick off in spring 2025, featuring a 6,000-seat music hall and a park atop a new parking facility, city and community approval processes are still holding the full green light at bay. Michael Reinsdorf and Danny Wirtz, the stewards of this vision, promise an annual $104 million in tax revenue and a sizeable $4.5 billion economic impact once the area's metamorphosis reaches stabilization, as per NBC Chicago.
Emphasis on enhancing connectivity and promoting alternative transport options form part of the redevelopment's ethos, with new bike, rail, and pedestrian-friendly initiatives highlighted, and an optimistic future image includes a mix of market-rate and luxury housing, Alderman Walter Burnett of the 27th ward has already expressed his support for the project, "I am excited for the investment on the West Side, which is often overlooked for this level of private investment," he told the Chicago Tribune.
Responding to the rampant and sprawling parking lot space, the new design incorporates greenery and public amenities which Ciere Boatright, commissioner of the Chicago Department of Planning and Development, described as an "exciting opportunity to reverse decades of parking lot expansion and restore the traditional neighborhood development pattern," as per the Chicago Tribune.
