(CNN) -- The Atlanta Braves are planning to leave downtown Atlanta.
Beginning in 2017, the team will no longer play at Turner Field. It's building a new stadium in Cobb County up the highway to the northwest, where two major interstates -- I-75 and I-285 -- meet.
"We are extremely excited that our address will still be Atlanta and so will the name across our jersey," the team said in an announcement. The location is just outside Atlanta's city limits.
"We wanted to find a location that is great for our fans, makes getting to and from the stadium much easier, and provides a first-rate game day experience in and around the stadium," President John Schuerholz said in a video message.
The team's contract with Turner Field -- which was retrofitted for baseball after the 1996 Olympics -- expires in 2016. Schuerholz said Turner Field needs "hundreds of millions of dollars of upgrades. Unfortunately, that massive investment would not do anything to improve access or the fan experience."
He vowed the new stadium site "will be one of the most magnificent in all of baseball. It will thrive with action 365 days a year." The surrounding area will be a "mixed-use destination," he said.
"This project will be a true public-private partnership," the Braves' statement said.
Turner Field is overseen by the City of Atlanta and Fulton County Recreation Authority, which had no immediate statement.