The Vikings and Ramsey County announced a deal Tuesday for the new Vikings stadium to be built in Arden Hills.
The new stadium's site will be on the former Twin Cities Army Ammunitions Plant property. It will be a 1.6 million-square-foot retractable-roof multipurpose stadium.
The project will cost a total of $1.057 billion. The Vikings will commit $407 million and the state of Minnesota has committed $300 million. According to the press release from Ramsey County, the county will finance its $350 million share with a half-cent sales tax increase.
The city of Minneapolis had proposed a stadium at the site of the Metrodome, projected to cost $900 million. The Arden Hills site costs more because of improvements to transportation options for fans heading to the stadium.
"We are going to bring back the old traditions of tailgating. This is what our fans want and this is what everybody wants to experience," Vikings owner Zygi Wilf said at Tuesday's press conference. The site is estimated to have 21,000 parking spaces.
The Vikings' current home, the Metrodome, is having its roof replaced after it was damaged by a December snowstorm. The Vikings had to play one home game at Ford Field in Detroit and another in TCF Bank Stadium on the campus of the University of Minnesota.