United Center Joint Venture, alongside city
and community leaders, announce plans for The 1901 Project, a
catalytic development for Chicago's West Side and a world-class
destination for all of Chicago.
CHICAGO, July 23,
2024 /PRNewswire/ -- United Center
next-generation owners Michael Reinsdorf and Danny Wirtz today jointly announced plans for
the largest private investment on Chicago's West Side: a catalytic mixed-use
development project that includes housing, retail, entertainment
and public open space on more than 55 acres of privately owned land
surrounding the iconic arena campus.
Spearheaded by the Reinsdorf and Wirtz families, The 1901
Project will transform the West Side with a jolt of new
development, bridging neighborhoods and enhancing opportunities for
residents, businesses and all of Chicago.
"The 1901 Project represents a continuation of our families'
commitment to the future of Chicago's West Side," Michael Reinsdorf said. "This investment will
create a thriving, interconnected neighborhood, delivering
significant benefits and resources to the community we have long
called home."
Spanning an estimated ten years, The 1901 Project is a
long-term, multi-phased development inspired by Chicago's
motto "Urbs in Horto" (City in a Garden). The vision features a
more than 10-acre elevated urban design strategy created by RIOS -
an internationally recognized design collective. The public park,
led by Field Operations, aims to establish new open space that
connects the community to nature, furthering the legacy of iconic
public spaces throughout the city and includes a walking path that
will celebrate the West Side and Chicago's rich history of sports and music.
The first phase of the project aims to begin in spring 2025 on
property that is today surface parking lots adjacent to the arena.
This initial phase will feature:
- A 6,000-seat capacity theater-style music hall: An intimate,
premier venue designed to attract music, arts and cultural events,
enhancing Chicago's entertainment
industry.
- A one-of-a-kind elevated park: Innovative green space
strategically integrated on the West Side of the campus, providing
more than 10 acres of public recreational and community gathering
space.
- Parking and transportation: Reimagined parking facilities and
improved pedestrian experience with enhanced walkability, lighting,
roads and bike lanes uniquely designed to blend into the
development.
- Hotel and retail programming: A mix of hospitality and retail
options aimed at boosting local commerce and creating jobs.
"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. "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."
Phase I development will include partnerships with key
organizations to facilitate a strong, local workforce partnership.
Integrated into the vision is a robust minority business strategy
through MBE/WBE construction partnerships as well as
apprenticeships, mentorship and subcontracting opportunities to
ensure smaller, diverse companies participate in its
development.
"While this is just the beginning, we have already started to
engage with our neighbors and community partners to identify areas
of opportunity for community wealth generation from this private
investment," said Danny Wirtz. "We
have a once-in-a-lifetime opportunity to expand on a legacy that
makes all of Chicago proud."
Future phase development envisions housing that spans various
unit sizes and includes affordable, market rate and luxury housing
to ensure a vibrant mix of residential offerings for single persons
and families. Transportation enhancements will better connect
the neighborhood through multi-modal means including bike,
pedestrian, car and rail enhancements. Immersed in green
spaces and sustainability features as well as decorative lighting,
pedestrian plazas and landscaping will also aid in community safety
and accessibility.
"It is fitting that we announce this project today as we
also remember Rocky Wirtz, who was
more than my business partner and confidante. He was my dear
friend," said Jerry Reinsdorf,
co-chair of United Center Joint Venture. "We shared a commitment to
our city and understood our responsibility to give back through our
charity arms and by seeking out economic opportunities for our
neighbors who live and work in and around the United Center.
Today's announcement builds on this effort led by both families to
leave a lasting legacy on the West Side."
All in, the $7B investment is set
to deliver substantial economic benefits to the West Side, with an
estimated $4.5 billion in stabilized
economic impact and $104 million in
stabilized tax revenue, providing significant financial support to
local public services and infrastructure. The transformative
development is estimated to create approximately 63,000
construction jobs, offering extensive employment opportunities
during the development phase. Additionally, upon completion, The
1901 Project will support around 12,000 permanent jobs, fostering
long-term economic growth and stability for the community. These
investments will not only enhance the economic landscape throughout
Chicago but also improve the
quality of life for residents long left without such opportunities
on Chicago's West Side.
"While the project still requires city and community feedback, I
am excited for the investment on the West Side, which is often
overlooked for this level of private investment. It's our time,"
said Ald. Walter Burnett of the 27th
Ward. "The United Center and its leadership team have been strong
and trusted partners, and I look forward to working alongside them
to bring this project to life while listening and engaging with the
community."
Pending local input and approval, The 1901 Project is poised to
become a catalyst for change, driving unprecedented growth and
opportunity for Chicago's West
Side. With a focus on inclusivity and innovation, this development
promises to deliver lasting benefits for generations to come. Stay
up-to-date on the latest updates by visiting
The1901ProjectChicago.com.
ABOUT THE UNITED CENTER
The United Center is a 960,000 square-foot multi-use
entertainment facility that has welcomed more than 70 million fans
since opening in 1994. Home of the Chicago Bulls (NBA) and the
Chicago Blackhawks (NHL), the United Center hosts more than 200
events each year, including the best sporting events, musical
performers, family shows and special events in the industry. A
commitment to creating iconic stories and providing superior
service makes the United Center one of the premiere venues in the
world.
The United Center, privately financed by the Wirtz and Reinsdorf
families and Bulls partners, opened in August 1994 to replace the old Chicago Stadium.
Chicago Stadium was the home of the Bulls and Blackhawks and hosted
the 1932, 1940 and 1944 Democratic National Conventions, along with
the 1932 and 1944 Republican National Conventions. The United
Center in August will host the 2024 Democratic National
Convention.
Led by the Wirtz and Reinsdorf families, the United Center Joint
Venture has invested nearly $1.2
billion into the West Side campus, including the 2014
construction of The Advocate Center – the practice facility for the
Chicago Bulls and the Fifth Third Arena – a community ice arena and
practice facility for the Chicago Blackhawks – in 2017. United
Center Joint Venture also privately financed the United Center East
Addition, which houses employees, retail, restaurants, event space
and iconic attractions including the Michael Jordan
statue.
The United Center currently provides more than $2 billion in economic impact, $35 million in taxes annually and supports 4,400
jobs.
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SOURCE United Center