McCormick Place Development Plan to expand options at IMTS.
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Press Release Summary:
Development plans announced by Chicago Mayor Rahm Emanuel's administration include 1,100-room hotel, to be completed in 2016, plus 500-room hotel to be built afterward. Included in plans is arena for DePaul Blue Demons basketball team where conferences, meetings, and concerts will also be hosted. Totaling $1.1 billion, plans provide for greater choice of options for IMTS exhibitors and attendees. Redevelopment of Navy Pier and expansion of Children's Museum are also planned.
Original Press Release:
Major Development Planned for McCormick Place Area
Chicago Mayor Rahm Emanuel's administration announced two major development plans for the city, including a new hotel and arena across from McCormick Place – to be the new home of the DePaul Blue Demons basketball team – as well as a redevelopment plan for Navy Pier. Intended to increase tourism and entertainment spending in Chicago, the initiative's value totals $1.1 billion.
The arena will also be able to host smaller conferences, meetings, concerts, and other events. The 500-room hotel will be built adjacent from a 1,100-room "headquarters" hotel that was already announced several months ago, meaning a much greater choice of options for IMTS exhibitors and attendees who prefer to stay close to McCormick Place.
The Navy Pier plan includes a new park and bicycle flyover, an expansion to the Children's Museum, and new dining and entertainment space.
The arena is expected to be completed in time for the Blue Demons' 2016-17 season. The 1,100-room "headquarters hotel" is also expected to be completed in 2016, with the smaller 500-room hotel constructed sometime thereafter.
