The District of Columbia's NFL team, the Washington Commanders, and city officials announced a $4 billion deal Monday to build a new stadium inside city limits.

The team, formerly the Washington Redskins, has played its home games in suburban Maryland since 1997. 

The proposed 65,000-seat stadium will be at the site of the now-abandoned RFK Stadium, where the team played its home games from 1961 to 1996.

The deal still must be approved by the D.C. Council, but if signed the mixed-use project would be complete by 2030, according to WTOP News. 

The Commanders plan to contribute $2.7 billion, and the city is vowing to invest roughly $1.1 billion over the next eight years for the project, which will reportedly include housing redevelopment in the surrounding neighborhood, the news outlet also reports.