The Oakland A’s have settled on their preferred spot for a brand-new, privately financed 35,000-seat ballpark. A 13-acre plot of land near Laney College will be the site of the $500 million stadium and the team hopes to play its first game there in 2023.

The A’s had been said to be favoring this site among their three options for some time now. If approved, it means the A’s would leave the Oakland Coliseum, their longtime home in Central East Oakland.

However, much has to happen before construction can begin. The first step is to make a deal with the Peralta Community College District, which has its headquarters on the site. In a letter to the district, team President Dave Kaval asked to begin negotiations with them to buy or lease the land.

In an effort to win over the Peralta District, the A’s proposed to construct housing and commercial space on a Laney College parking lot near the site. The revenue from the development would be funneled directly to Laney. The A’s also offered to build a garage nearby, increasing the college’s parking capacity.

According to an SF Chronicle report, the Peralta site has many features that the A’s prioritized in their search for a new place to call home. It’s located right off Interstate 880, it’s close to the Lake Merritt BART Station, and it’s near Downtown.