The development, anchored by a roofed, 65,000-seat stadium, will be funded primarily by the Commanders, who would put up $2.7 billion, while D.C. taxpayers would pay $500 million.

The Washington Commanders and Washington D.C. agreed to a deal to construct a new football stadium at the site of RFK Stadium, where they played from 1961 to 1996, they announced Monday.

Mayor Muriel Bowser said Monday the District of Columbia and the Commanders reached an agreement to construct a new home for the football team in the city at the place the franchise called home for more than three decades. The agreement is pending D.C. City Council approval.