The proposed $7 billion United Center overhaul could break ground as early as next year, officials said during a press conference at the Union League Tuesday.
According to the Chicago Sun-Times, United Center’s current owners outlined their plans for bringing The 1901 Project to life and detailed their long-term vision for the campus during Tuesday’s forum.
Officials reportedly stated they anticipate the project to develop over a 15 year period, an increase from a previously estimated decade-long timeframe.
Phase one of the project could begin next summer, officials said, and include a 6,000-seat music hall and parking deck with a rooftop park.
According to the Sun-Times, officials have maintained that the project will be privately financed. However, United Center’s owners have also met with city officials to discuss the possibility of using tax increment funding (TIF) to offset the sky-high development costs.
If approved, TIF funds could potentially be allocated towards a new Pink Line station near United Center to increase accessibility from downtown. Officials reportedly said that such a decision would lie in the hands of the Chicago Transit Authority.
For decades, United Center has been surrounded by little more than empty parking lot space. The 1901 Project would turn the arena and surrounding West Side neighborhood into a world-class destination for tourists and Chicagoans alike.