After a decade-long search, the D.C. United soccer team could have a new home as early as 2016.

Team officials announced Tuesday that it had reached an agreement with city leaders to build a 20,000 seat stadium at Buzzard Point in Southwest D.C. The team has played at RFK Stadium since its founding in 1996 – a multipurpose facility that has served more than a dozen teams from the Redskins to GW’s former’ football team.

The soccer stadium is estimated to cost $300 million. Unlike Nationals Park, which was funded entirely by the District, the team will split costs with the city.

The stadium deal marks a significant economic achievement for Mayor Vincent Gray, and could bring substantial development to Half Street and Southwest D.C.

D.C. City Council members must now approve the deal, which involves several land swaps to nab the location.  Council members Jack Evans and Tommy Wells, both running for mayor in 2014, have previously voiced support for a new stadium.

D.C. United is one of the most successful franchises in Major League Soccer, winning the U.S. Open Cup twice. The team last won the MLS Championships in 2004.