Chicago Bulls’ $7b United Center renovation with NBA team transforming entire neighborhood around iconic arena
The 1901 Project's name pays homage to a special location
THE Chicago Bulls and Blackhawks have unveiled their $7 billion vision to transform the area around the United Center.
Known as the 1901 Project, the mixed-use development will create a thriving Chicago neighborhood that includes a 6,000-seat music hall, hotel, and new green spaces.
The project is expected to take 10 years to complete, with work beginning in the spring of 2025.
It is privately funded by the families of Bulls CEO Michael Reinsdorf and Blackhawks chairman Danny Wirtz, who are co-owners of the United Center.
"We think the time now is right, and the city is ready for it, and we're ready to do it and do it well," Wirtz said.
"It's been, I think informally, probably the last five to 10 years we've been talking about this.
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"So it's not we woke up one day and drew up some plans.
"You're making a major generational bet."
The name is a play on United Center’s address of 1901 W. Madison St.
Other upgrades for Chicago's West Side neighborhood include multiple dining and retail options, a hotel, and approximately 5,000 mixed-income housing units.
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There are currently seven phases planned in the 55-acre project.
The first phase, which will cost $767 million, will transform parking lots around the arena into new public spaces.
It includes a 6,000-seat theater, multilevel parking facility with more than 10 acres of public green space on its rooftop, and pedestrian-friendly sidewalks and bike lanes.
It is being overseen by the Los Angeles-based design firm RIOS.
According to organizers, the plan would create 63,000 jobs and 13,000 permanent jobs.
The hope is to create a $4.5 billion annual economic impact.
It is all pending approval from the city council.
Elsewhere in the city, the Chicago Cubs have successfully developed Wrigleyville in recent years.
Meanwhile, the White Sox and Chicago Bears are seeking to develop new facilities.
The two teams looking for public funding for those projects.
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"This is not an entertainment district. We're building an entertainment district," Reinsdorf said.
"We're transforming this neighborhood."