LOS ANGELES (CBSLA.com) — Southland residents may soon have the opportunity to experience a one-of-a-kind park be built on top of the 101 Freeway in Hollywood.

KCAL9’s Bobby Kaple gave a preview of park plans, which, if approved, will stretch from Santa Monica Boulevard to Bronson Avenue over the freeway.

According to officials, the Hollywood Central Park is expected to cover 38 acres and will offer several recreation areas for residents to enjoy.

“We’re going to see bicycle and walking trails,” said Alfred Fraijo. “We’re going to see an amphitheater. Hollywood has always been about ‘dream big,’ and that’s exactly what we’re doing here.”

The park has been under consideration since 2006. If approved, the billion-dollar project will be built in sections over the course of about 10 years.

“We think it’s a great step forward for the park and the development of what we think will be a transformative project for Hollywood and the city,” said Fraijo.

As with any ambitious project, however, there are expected obstacles in the planning process. In this case, some residents shared concerns about how earthquakes, smog, traffic and even tanker fires would effect the park.

“This is the first step,” said Councilman Mitch O’Farrell. “I think the way this has been thought out and planned, I think we’ll get it right.”

Authorities said the federal government and state officials are expected to front most of the cash for this project.

The first city-sponsored public comment meeting will be held Saturday.