Members of the council’s Committee on Zoning, Landmarks and Building Standards signed off on the multi-phased project that was announced last year. The proposal still needs the backing of the full council.
The “1901 Project,” named after the arena’s postal address on West Madison Street, would add housing, retail, entertainment space and a public plaza to areas surrounding the arena. Construction would take place in seven phases over the course of 10-15 years.
The Chicago Plan Commission signed off on the plans last month.
Phase one is expected to take two years to complete and would include the construction of a large music hall designed to seat 6,000 people. It also includes a hotel and a public plaza for special events.
Photo renderings of The 1901 Project:
Private funds between the two families who own the Chicago Bulls and the Chicago Blackhawks will cover the estimated $7 billion price tag. There is no plan to ask for government funding.
The United Center is about 30 years-old and was also not built with public money. It hosts about three million people a year.
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