{"id":1004108536,"date":"2014-12-01T11:01:13","date_gmt":"2014-12-01T19:01:13","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=309964"},"modified":"2022-12-08T12:14:59","modified_gmt":"2022-12-08T20:14:59","slug":"mcpier-greenlights-564m-mccormick-place-hotel-and-events-center-in-chicagos-south-loop-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mcpier-greenlights-564m-mccormick-place-hotel-and-events-center-in-chicagos-south-loop-2\/","title":{"rendered":"McPier Greenlights $564M McCormick Place Hotel and Events Center in Chicago\u2019s South Loop"},"content":{"rendered":"

By Ioana Neamt, Associate Editor<\/em><\/p>\n

\"\"<\/a><\/p>\n

DePaul Arena<\/p>\n<\/div>\n

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.<\/p>\n

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.<\/a><\/em> 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\u2019s downtown center.<\/p>\n

\"\"<\/a><\/p>\n

DePaul Arena<\/p>\n<\/div>\n

Located on the corner of Cermak and Indiana in Chicago\u2019s Near South Side area, the McCormick Place Events Center is expected to take about 22 months to complete, the Chicago Tribune<\/a><\/em> reports. The arena\u2019s design features glass exterior walls, an undulating roof, as well as retail and hospitality space on the ground level. The initial plan included a \u201cdug-in\u201d design which placed the basketball court below ground level, however the idea proved to be financially challenging and was eventually dropped, according to Crain\u2019s Chicago Business<\/a>.<\/em><\/p>\n

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.<\/p>\n

Renderings courtesy of Pelli Clarke Pelli via Curbed Chicago<\/a><\/em><\/p>\n

Click here<\/a> for more market data on Chicago\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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.<\/p>\n","protected":false},"author":192,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21742],"tags":[],"class_list":["post-1004108536","post","type-post","status-publish","format-standard","hentry","category-chicago","category-latest"],"acf":[],"yoast_head":"\nMcPier Greenlights $564M McCormick Place Hotel and Events Center in Chicago\u2019s South Loop - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mcpier-greenlights-564m-mccormick-place-hotel-and-events-center-in-chicagos-south-loop-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"McPier Greenlights $564M McCormick Place Hotel and Events Center in Chicago\u2019s South Loop\" \/>\n<meta property=\"og:description\" content=\"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.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mcpier-greenlights-564m-mccormick-place-hotel-and-events-center-in-chicagos-south-loop-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-12-01T19:01:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T20:14:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/11\/DePaul-Arena.jpg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mcpier-greenlights-564m-mccormick-place-hotel-and-events-center-in-chicagos-south-loop-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mcpier-greenlights-564m-mccormick-place-hotel-and-events-center-in-chicagos-south-loop-2\\\/\"},\"author\":{\"name\":\"Ioana Neamt\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/993af2799cdaf5162633d320cf63ff16\"},\"headline\":\"McPier Greenlights $564M McCormick Place Hotel and Events Center in Chicago\u2019s South Loop\",\"datePublished\":\"2014-12-01T19:01:13+00:00\",\"dateModified\":\"2022-12-08T20:14:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mcpier-greenlights-564m-mccormick-place-hotel-and-events-center-in-chicagos-south-loop-2\\\/\"},\"wordCount\":326,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mcpier-greenlights-564m-mccormick-place-hotel-and-events-center-in-chicagos-south-loop-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/11\\\/DePaul-Arena.jpg\",\"articleSection\":[\"Chicago\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mcpier-greenlights-564m-mccormick-place-hotel-and-events-center-in-chicagos-south-loop-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mcpier-greenlights-564m-mccormick-place-hotel-and-events-center-in-chicagos-south-loop-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mcpier-greenlights-564m-mccormick-place-hotel-and-events-center-in-chicagos-south-loop-2\\\/\",\"name\":\"McPier Greenlights $564M McCormick Place Hotel and Events Center in Chicago\u2019s South Loop - 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