CHICAGO-The Emanuel administration released details on Wednesday on a plan to build a new home for the DePaul University basketball team and the first phase of the redevelopment of the Navy Pier. The two initiatives are said to involve $1.1 billion in investment.
The new $140-million DePaul stadium would be a 10,000 seat arena across from McCormick Place that would not only be home to the Blue Demons, but would also host other sporting events, small conferences, meetings and concerts. Also part of the plan is a 500-room hotel that would be built nearby a 1,100-room hotel that was previously announced, according to Crain's Chicago Business.
The administration also hopes to move forward on the $163-million first phase of the redevelopment of Navy Pier that is to feature a new park and bicycle flyover at the pier's west end, an expanded Children's Museum and 54,000 square feet of new dining and entertainment space.
“We're trying to get more bang for our buck,” says Deputy Mayor Steve Koch. “By putting this together in a big package, we think we have a chance to dramatically change people's perceptions” about coming to the city. See story in Crain's Chicago Business.
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