New McCormick Place Arena and Hotel Set to Begin Construction in Early 2015 and Shooting for Completion in 2017

Curbed Chicago provides an update:

Tuesday night, the 3rd ward's alderman Pat Dowell hosted a public meeting where McCormick Place representatives presented an update on the ongoing development project to expand the convention facility's footprint by constructing a new Pelli Clarke Pelli designed arena and events center, a new high rise hotel and convention center, as well as a new data center. The meeting was primarily meant to address neighborhood residents' concerns about the traffic and parking implications of the new construction and facilities, but there were a few updates about the buildings themselves. 

The 51 story hotel building, set to be a Marriott Marquis with 1,200 rooms and considerable conference and event space, as well as the 10,000 seat stadium, which will host DePaul University's basketball games and be available for concerts and other events, will both start construction in January 2015. The stadium should be completed by February 2017, with the hotel's completion following in May.