NYCFC are nearing an agreement to built a 25,000 seat stadium in the South Bronx.

The stadium is part of a $1 billion development project.

The new stadium, close to Yankee Stadium, would begin development in 2022. 

“It’s long past time to make the underutilized parking lots around Yankee Stadium into something more,” a representative for the Economic Development Corporation said in a statement Friday. “The city has been approached by a team of affordable housing developers, the Yankees and the N.Y.C. Football Club.