Brown Field Airport in Otay Mesa is finally being revamped

Zoom in: This airpark redevelopment project is the first phase of a plan that will also include commercial hangars and new roads, plus a hotel, restaurant and expansive retail space.

Driving the news: Officials broke ground Monday on the long-awaited project for the 880-acre municipal airport south of Chula Vista that's expected to be an economic catalyst for the region.

Between the lines: The project is expected to create 2,500 new jobs and have a $1.5 billion economic impact, according to the city.

• It will be a boost for Otay Mesa, which has seen significant growth in recent years with new housing, industrial projects, a new border crossing under construction and the Cross Border Xpress bridge to the Tijuana airport.

Fun fact: It's currently the largest general aviation airport redevelopment project on the West Coast, according to the city.

Follow the money: The project is estimated to cost $1 billion, with developer San Diego Airpark, LLC covering this first $100 million bill.

• Another developer, Industrial Realty Group, agreed to buy 43% of the project in 2022 and make $250,000 annual rent payments to the city.
• Brown Field, a U.S. port of entry and reliever for San Diego International Airport, is also set to receive nearly $15 million in federal grant funding for infrastructure and security.

What's next: The project is expected take 20 years to complete, with the first building going up in 2025.