Location Chicago, Illinois Capacity 10,000 Opened Fall 2017 (projected) Phone +1 312-791-6159 Architect César Pelli | Coordinates 41.852997, -87.622194 Broke ground November 16, 2015 Address Chicago, IL 60616, USA Construction cost 173 million USD | |
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Operator Metropolitan Pier and Exposition Authority Owner Metropolitan Pier and Exposition Authority Similar Hyatt Regency McCormi, Harriet F Rees House, McCormick Place, Sullivan Athletic Center, Allstate Arena | ||
Depaul athletics wintrust arena
Wintrust Arena at McCormick Square (previously referred to as DePaul Arena or McCormick Place Events Center) is a 10,000-seat sports venue that started construction in 2016 in Chicago's Near South Side community area and will be home court for the men's and women's basketball teams of DePaul University as well as serve as an events center for McCormick Place. The arena was announced in May 2013, with construction planned to begin in 2014, and use expected to begin with the 2016–17 season. The start of construction was delayed to November 2015, with completion now expected for the 2017–18 season. Although DePaul had been seeking a new home arena — it has used Allstate Arena in suburban Rosemont since 1980 — it rejected a November 2012 ten-year offer to play rent free at the United Center. Instead, DePaul planned to use Allstate Arena on a recurring one-year basis until it had a new home. On November 16, 2016, DePaul and the Metropolitan Pier and Exposition Authority (MPEA or "McPier") announced that the new event center at McCormick Square would be called Wintrust Arena. The announcement came after the signing of a letter of intent that contemplated a definitive 15-year sponsorship agreement between DePaul and Wintrust.
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Wintrust arena january 2017
Planned construction
At the outset there were two different interpretations of the planned venue. ESPN has interpreted the plan as a 10,000-seat arena with a cost to tax payers of $103 million and total cost of $175 million. The Chicago Sun-Times has interpreted the plan as a 12,000-seat arena with public funding of $125 million out of a total spend $300 million.
Original 12,000-seat plan
Before the actual announcement, the arena was publicized by the Chicago Sun-Times as a 12,000-seat arena that would cost $300 million. After the announcement, the Chicago Sun-Times reported an expected 12,000 seat venue, but with $125 million coming from public funds.
10,000-seat plan
Upon announcement, ESPN reported the expected cost of the 10,000-seat arena, located on Cermak Road between Indiana and Prairie Avenue, across the street from McCormick Place was $173 million. The funding will come from three sources: $70 million from the university, $70 million from a McPier bond fund and $33 million from public taxes (e.e., $103 million from public funds). It will be built to host concerts, conventions and other events in addition to DePaul Basketball games.
Funding
The decision for public participation in the funding of DePaul's athletic facility was controversial because it was announced 6 days prior to the Board of Education's decision to close 50 public schools due to a $1 billion deficit. When the Chicago City Council approved funding on July 24, 2013, the Chicago Reader described as though money was taken from the schools and spent on the arena because the spending plan included $68 million in budget cuts for the Chicago Public Schools. The Chicago Tribune revealed that the land for the project had not yet been acquired four days after the City Hall funding vote.
Construction
On November 16, 2013, Chicago Mayor Rahm Emanuel, officials from DePaul University and McCormick Place attended the ceremonial groundbreaking for the center. At the time of the groundbreaking, the construction was expected to result in a 10,000 seat venue at the corner of Cermak Road and Indiana Avenue and expected to be completed at some time in 2017. At the time, the DePaul Athletics department expected the 2017–18 DePaul Blue Demons to be able to host its season opener at the venue, but the venue was expected to double as an events center for McCormick Place. The Center was expected to create 7,400 construction jobs and 2,500 permanent jobs.
The city issued a "new construction" building permit to McPier on March 23, 2016, for the full building. Previously issued permits allowed the construction of foundations and shear walls.
Naming
After being referred to as both DePaul Arena and McCormick Place Events Center, MPEA and DePaul announced a 15-year naming rights-agreement for the complex with Wintrust Financial under the name Wintrust Arena on November 16, 2016.