The Obama Foundation announced yesterday the conclusion of a four-year-long federal review process for the Obama Presidential Center (OPC), and intent to break ground on the Center in 2021.

The City of Chicago has already scheduled the start of pre-construction work due for April, which will include the relocation of utility lines on the site. Construction of the OPC will begin in the second half of the year, starting with preliminary roadwork, according to the Obama Foundation.

"Getting to this point wouldn’t have been possible without the folks in the community who have been a part of this process along the way," said President Obama in a video message. "Michelle and I want to thank you for making this project even better — a space for the community, built in partnership with the community. We know that by working together, we can unlock the South Side’s fullest potential — and help set up our city, our country, and our world for even better years still to come."

The estimated construction costs of the Center and development of the parkland on-site is set at nearly $500 million. Moreover, an economic impact study, reports the Obama Foundation, concluded the site will have a $3.1 billion economic impact and bring 700,000 visitors from around the world to the South Side each year.

The Foundation has also committed to awarding 50 percent of the subcontracting packages for the upcoming work to diverse vendors, built on the belief "that the team that's building the Center should look like the community it calls home."

"For many small vendors, getting a chance to work on a project of this size and complexity will allow subcontractors to not only profit from the project, but gain the necessary experience to allow them to compete for similar, large-scale projects in the future," said Lori Healey, Obama Presidential Center Implementation Lead, in a statement. "We are committed to creating opportunities for diverse vendors because we believe the team building the Center should look like and benefit our community."