Construction of a massive municipal park—over 20 years in the making, is finally underway in the city of Irvine.

They say if California became its own country, it would have one of the world's largest economies. The new Great Park of Irvine is a reflection of the always lofty ambitions of the state, and is expected to dwarf Central Park by more than 500 acres.

It was on May 23rd this year that the "Great Park Project" broke ground on the long-derelict El Toro Marine Corps Base, 21 years after voters approved a ballot measure ordering the state to create a park on the site.

Expected to take another 10 years to complete, the park will span 1,300 acres and include several museums, an amphitheater, a veterans memorial garden, an aquatics center, a sports complex, and not one but two lakes.

"After many years of community input and after the last year of intensive planning and design, we are excited to be launching what is a $1 billion investment to establish the world's next great metropolitan park," said Irvine City Councilman Michael Carroll who serves as Chairman of the Great Park Board.

$455 million was raised for the project through 30-year municipal bonds that will pay off $1 billion to investors and comes after repeat failures from past governments to find money and time to kick start the work.

Irvine professionals from SWA Group and Kellenberg Studios will be in charge of the transformation.

First item of work on the agenda is to demolish and clear away 77 old military buildings while leaving the El Toro air traffic control tower which will be leased by the FAA. However a portion of the Irvine Great Park, as it's being called, is already open to visitors and includes a soccer pitch and some other amenities including tethered balloon to take visitors up into the sky.

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Editor's note: The headline here has been altered to reflect its size.