The Wirtz Corporation reveals extraordinary $7 billion transformation of the United Center
Photo credit: The Real Deal
Chicago's United Center along with the West side of the city will receive a $7 billion injection of private funds from both Michael Reinsdorf and the Wirtz family.
This project was revealed by both families as the project is now known as the 1901 project. Both families sent out a press release to show their intent on what they will do to both areas of the city.
«transform the West Side with a jolt of new development, bridging neighborhoods and enhancing opportunities for residents, businesses and all of Chicago.» New green spaces, housing and a variety of other features are all included in the broad scope of the project, according to officials.
The timeline for this project is set for 10 years and work will begin in spring of 2025.
The Chicago Sun-Times explained that there will be 7 phases to complete.
When the project is all done and ready to be used, they will be removing parking lots around the arena and turning them into public spaces, they will also build a new park and it will include a 6000-seat Music Hall.
There will also be an opportunity for hotels another retail shops to join in on this project as it hopes to bring in $104 million in revenue a year.
This will also be in job generator as the project will require 4000 construction jobs potentially up to 1900 permanent jobs.
Source: NBCChicago.com
| POLL | ||
SEPTEMBRE 20 | 52 ANSWERS The Wirtz Corporation reveals extraordinary $7 billion transformation of the United Center Do you like the proposed Project 1901 for Chicago's west side and the United Center? | ||
| Yes | 41 | 78.8 % |
| No | 11 | 21.2 % |
| List of polls | ||
MUST READ
TRENDING NOW
