McPier Greenlights $564M McCormick Place Hotel and Events Center in Chicago’s South Loop
- Dec 01, 2014
The Chicago Metropolitan Pier and Exposition Authority, also known as McPier, recently announced it has awarded the contract for a hotel and events center at McCormick Place to Prairie District 3 Partners. The partnership is led by Clark Construction Group Chicago and includes Bulley & Andrews LLC, Goettsch Partners, Moody Nolan, Old Veteran Construction, and McKissack & McKissack Midwest. World-renowned architectural firm Pelli Clarke Pelli handled the design of the project.
The McCormick Place Events Center, also known as DePaul Arena was first announced in May 2013, and is expected to break ground in 2015. The project includes a $164 million, 10,000-seat sports arena, as well as an adjacent 1,206-room, 40-story Marriott hotel, according to the Chicago Sun-Times. The 30,000-square-foot DePaul Arena will serve as the home court for DePaul University basketball and is located three miles south of DePaul’s downtown center.
Located on the corner of Cermak and Indiana in Chicago’s Near South Side area, the McCormick Place Events Center is expected to take about 22 months to complete, the Chicago Tribune reports. The arena’s design features glass exterior walls, an undulating roof, as well as retail and hospitality space on the ground level. The initial plan included a “dug-in” design which placed the basketball court below ground level, however the idea proved to be financially challenging and was eventually dropped, according to Crain’s Chicago Business.
The DePaul Arena will be owned and managed by the Metropolitan Pier and Exposition Authority, who will be splitting the cost of the project with DePaul University. The arena is an integral part of the $841 million McCormick Place Entertainment District, an initiative meant to redevelop and revitalize the area around the McCormick Place convention center, the largest in the country.
Renderings courtesy of Pelli Clarke Pelli via Curbed Chicago
Click here for more market data on Chicago