Neighbors concerned over gentrification in 1901 Project proposed by United Center owners

CHICAGO (WLS) -- Community members weighed in on the proposed 1901 Project on Tuesday.

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Developers announced the multi-billion dollar invested last month. United Center owners said it would transform and revitalize the Near West Side neighborhood.

The 1901 Project would include residential units, a music hall, a hotel, and retail and park space.

"We are concerned about gentrification," one neighbor said. "Taking our communities and pricing us out of our own communities."

READ ALSO | United Center owners pitch $7B investment called 1901 Project to revitalize neighborhood

27th Ward Alderman Walter Burnett hosted the meeting along with developers.

"Do you want your property values to go up and other amenities come to your community and your taxes go up," Burnett asked. "Or do you want vacant land and parking lots and your taxes go up?"

The owners of the Chicago Bulls and Blackhawks are behind the project. They said the $7 billion would be paid for with private funds.

However, it needs city council approval.