Demolition work will soon begin at LaGuardia Airport, the first visible signs of a $4 billion project to rebuild the aging, cramped facility.

Gov. Andrew Cuomo and officials with the Port Authority of New York and New Jersey detailed the latest developments in the airport overhaul on Wednesday.

They also announced the closing on a $2.4 billion financing package that will help fund the public-private project. More than two-thirds of the overall cost will be paid by private financing and passenger fees.

The overhaul will remake the airport’s footprint and build a new central terminal, which should be completed by the end of 2021.

The Democratic governor called Wednesday’s announcements “a really big deal” and said the new facility will be an airport the state “deserves.”

This article was from The Associated Press and was legally licensed through the NewsCred publisher network.

Photo Credit: Vice President Joe Biden, left, shakes hands with New York Gov. Andrew Cuomo, in a hangar of the Vaughn College of Aeronautics and Technology, in New York, Monday, Oct. 20, 2014, during a presentation to discuss the need to improve New York's airports. Biden joined Cuomo as the governor announced a design competition to modernize and improve New York City's John F. Kennedy and LaGuardia Airports. Richard Drew / Associated Press