New York City FC have confirmed discussions with Bronx developers to build a privately-financed 25,000-seat stadium near Yankee Stadium, according to the New York Times.

The club, which has called Yankee Stadium its primary home base since joining Major League Soccer in 2015, have been in search of a permanent home for about the same amount of time.

It appears that search might be nearing a close. The proposed stadium is reportedly part of a $1 billion development project that includes affordable housing, a new school, a hotel and retail stores.

The stadium would be built on the site of an old Yankee Stadium parking garage and the adjacent GAL elevator parts factory on East 153rd Street, from River Avenue to the Major Deegan Expressway.

The Times reports construction would not begin until 2022 at the earliest and the team wouldn’t likely move in until at least 2024.

NYCFC issued the following statement to the Times:

NYCFC is actively involved with MADDD Equities, the New York Yankees, NYC Economic Development Corporation, the Bronx Parking Authority, Bronx community groups, and local leaders to bring an exciting and positive project proposal to the South Bronx and its community, one element of which would be New York City’s first soccer-specific stadium and home for NYCFC. We have been honored to call the Bronx our home for the last five years playing at Yankee Stadium, and we will keep our neighbors and our dedicated fans informed as we participate with MADDD and others in any related consultations and the public approval process.

Because of scheduling conflicts, NYCFC have been forced to move important games away from Yankee Stadium in recent years. They’ve played a regular season game at Rentschler Field in East Hartford, Connecticut. and used two different college venues for home U.S. Open Cup matches. NYCFC have played twice at Citi Field, including last year’s MLS Cup playoff defeat to Toronto FC and have moved four regular season home games there this year.

The club announced their first-ever Concacaf Champions League home match, the Round of 16 second leg clash against AD San Carlos Feb. 26, will be played at Red Bull Arena.

To read the full New York Times story, click here.