New DePaul arena to be built near McCormick Place

FILE - In this file photo, McCormick Place is seen against the Chicago Skyline. (AP Photo/Nam Y. Huh, File)

May 13, 2013 3:54:18 PM PDT
Mayor Rahm Emanuel is set to announce three major projects in and around McCormick Place.

The Chicago Sun-Times is reporting that a 12,000-seat arena for DePaul University will be built there.

The plan is for the $300 million cost to be paid for by the university, the state and a naming rights sponsor.

The mayor will also announce plans for two major new hotels, one just north of the convention center and the other on Cermak Road.