The Chicago City Council approved a $7 billion plan that would allow the owners of the Bulls and Blackhawks to transform the area surrounding the United Center.

We set out to do something with no existing blueprint,” Blackhawks chairman Danny Wirtz said. "Our commitment is to create spaces that empower all generations, fostering a thriving community that enhances the cultural and economic fabric of the West Side.

Alders at Wednesday’s City Council meeting gave final approval on a $7 billion plan to redevelop 55 acres around the United Center with housing, retail, entertainment space and a public plaza.

Owners of the United Center hope to break ground on phase one this summer, which will include a music hall, hotel and public green space.

Project,” named after the United Center’s postal address on West Madison Street, would add housing, retail, entertainment space and a public plaza to areas surrounding the arena.