Seven Architectural Firms Selected As Finalists To Submit Designs For Obama Presidential Library

(CBS) -- The Barack Obama Foundation has selected seven architectural firms to submit design proposals for the Barack Obama Presidential Center to be built on the South Side of Chicago.

The seven firms are: Adjaye Associates of London, Diller Scofidio + Renfro of New York City, John Ronan Architects of Chicago, Renzo Piano Building Workshop, Genova, Italy, SHoP Architects in New York City, Snøhetta in New York City and Tod Williams Billie Tsien Architects in New York City.

The firms are being asked to submit designs for both potential sites for the library, Jackson Park and Washington Park.

"These finalists offer a variety of backgrounds and styles, and any one of them would be an excellent choice," Martin Nesbitt, chairman of the Obama Foundation in a press release. "We are excited to see this process moving forward because the Obama Presidential Center will be so much more than a library – this facility will seek to inspire citizens across the globe to better their communities, their countries, and their world."

Last May, the foundation announced that the University of Chicago won the bid for the the library. Officials have said the library center could open as soon as 2020. It is expected to cost more than $500 million, funded by private donations to the Obama Foundation.