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RE Rumor Mill: DePaul Arena, Related Cos., MTA

By Natalie Rodriguez (November 18, 2014, 6:02 PM EST) -- Chicago's Metropolitan Pier and Exposition Authority is said to be in hot negotiations with a contractor slated to win an award to build DePaul University's basketball arena and a nearby hotel, after projected costs for the arena soared from the city's optimistic $140 million estimate to $250 million, according to a report by Crain's, which cited unnamed sources. The contract is part of a larger redevelopment project that includes the arena and a complex of hotel and retail spaces. A joint venture led by Clark Construction Group is slated to be awarded the contract, but the city agency is struggling with the price tag, according to the report....

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