The seesawing continues on DePaul's likely location for a new 12,000-seat Blue Demons basketball arena. Word leaked to the press that Mayor Rahm Emanuel intends to announce a $300M arena deal at the McCormick Place-adjacent site on Cermak b/w Indiana and Calumet. To sweeten the deal for DePaul, $100M in taxpayer subsidy and $100M in McPier financing will go into the project with multi-use stipulations coming in return. What stipulations, you ask? Convention functions and CPS access. The mayor is also expected to announce not one but two hotel projects flanking the arena. Stay tuned! [CBS Chicago, previously]
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