Chicago City Council Approves $7B 1901 Project Redevelopment

The Chicago City Council has given final approval to the $7 billion 1901 Project, aimed at redeveloping 55 acres around the United Center. This ambitious plan includes the construction of 5,000 residential units, retail and entertainment spaces, a hotel, and a 6,000-seat music venue, with 20% of the housing designated as affordable. Construction is set to commence this spring and will unfold in seven phases over the next 10-15 years, funded entirely by the families owning the Bulls and Blackhawks, without any public financing. Project leaders emphasize the development's potential to enhance the West Side's cultural and economic landscape. The plan has received enthusiastic support from city officials and the community, marking a significant step in revitalizing the area. However, a separate bond proposal for $830 million to fund other city projects faced substantial criticism and was shelved during the meeting.