Updated: May 12 at 8:30 a.m.
The Barack Obama Foundation announced on Tuesday morning that the Obama presidential library will go to Chicago's South Side, as previously reported. Columbia—the alma mater of Barack Obama, CC '83—was one of four finalists for the library, alongside the University of Illinois at Chicago, the University of Hawaii, and the University of Chicago.
Though Columbia lost the bid for the library, the Obama Foundation "intends to maintain a presence at Columbia University for the purpose of exploring and developing opportunities for a long term association," according to the foundation's press release issued Tuesday.
Throughout the selection process, the Barack Obama Foundation has indicated its interest in an academic collaboration to enhance the pursuit of the President's initiatives beyond 2017," University President Lee Bollinger said in a statement to Spectator. "We are very pleased that the Foundation today announced that it intends to establish a presence at Columbia for the purpose of exploring and developing such a long term association. We look forward to hosting the Foundation on our campus and take great pride in being part of the post-Presidency of our alumnus, Barack Obama, and First Lady Michelle Obama."
In the meantime, you can watch the official announcement from the Obama Foundation below.