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Crain's Chicago Business, September 23, 2024

Page 1

September 23, 2024

Public safety has a perception problem Often a perception gap exists between how safe city dwellers feel and their statistical risk of victimization. Right now, however, it’s exceptionally wide. PAGE 12

— Gallup, August 2023

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27%

Just over a quarter of Americans rate Chicago as a safe place to visit.

United Center owners detail vision for 1901 Project The $7 billion plan would bring 14 million square feet of new living and lifestyle development to the area over the next decade-plus By Danny Ecker

The owners of the United Center have revealed more details of their $7 billion plan to redevelop the arena’s surroundings, seeking city approval for nearly 9,500 apartments, more than 1,300 hotel rooms and a residential high-rise that would dwarf buildings in the surrounding area. The specifics were disclosed in a zoning application by the venue’s ownership, a first formal step toward a megaproject that would dramatically reshape the

city’s Near West Side. The Reinsdorf and Wirtz families, which respectively own the Chicago Bulls and Blackhawks and jointly own the arena at 1901 W. Madison St., announced plans in July for the so-called 1901 Project that would bring 14 million square feet of new development to the area over the next decade-plus. Touting the plan as a “catalytic development” for the West Side, the arena owners said at the time they could begin the first phase of the project as soon as next spring, pending a sign-off on the

plan by the City Council. The application specifies that 1,893 apartments — 20% of the 9,463 total proposed units — built across the expanded campus would be affordable to comply with the city’s ordinance governing affordable housing in new developments. Many of the residential projects contemplated would be built on surface parking lots that encircle the United Center today and are controlled by arena ownership. The plan also calls for more than 25 See 1901 on Page 46

A rendering of developments proposed around the United Center as part of the 1901 Project | RIOS

VOL. 47, NO. 37 l COPYRIGHT 2024 CRAIN COMMUNICATIONS INC. l ALL RIGHTS RESERVED

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Crain’s honorees are influential, innovative, bold and strategic. PAGE 21


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