ATLANTA -- The Atlanta Braves announced Monday morning that they plan to move to a brand new stadium in Cobb County for the beginning of the 2017 baseball season.

The Braves say they plan to build a new stadium on the northwest corner of the Interstate 75-285 interchange in Cobb County.

"We are excited to announce plans to build a world-class stadium, which will open in 2017 at the NW intersection of I-75/I-285," the team said in tweets. "We have secured a large tract of property at this location & will work to build a world-class ballpark for our fans."

The team says they plan to leave Turner Field after their 20 year agreement expires at the end of the 2016 season.

"The Braves' lease at Turner Field expires at the end of 2016, and we needed to find a long-term solution that ensured the Braves would remain in Atlanta for another generation. Turner Field needs $150 million in infrastructure work alone (replacing the seats, repairing and upgrading lighting, etc.), none of which would significantly enhance the fan experience," the team said on their new "Home of the Braves" website, which details information about the new ballpark.

The team says in a release that since 1997, the Braves have invested nearly $125 million in Turner Field. They said that even with a significant capital investment in Turner Field, several insurmountable issues still exist -- the lack of mass transit, lack of adequate parking, lack of access to major roadways and a lack of control over development of the surrounding area.

In a release, the team says the estimated cost of the new stadium, parking and related infrastructure is roughly $672 million. The Braves say they will be a "significant investor" along with Cobb County.

On the Home of the Braves website, the team addresses the question of what will happen to Turner Field by saying, "Turner Field was given to the City of Atlanta following the 1996 Olympics. The Braves do not own or manage the facility and our lease expires in 2016. That being said, the organization has invested nearly $125 million into the facility for maintenance and improvements. The City of Atlanta and the Atlanta-Fulton County Recreation Authority will make the final decision on what to do with the property after the team moves."

The Braves say the new stadium will be part of an integrated mixed-use community that includes parking, greenspace and a world-class entertainment district featuring retail, restaurants and hotel options.

Plans call for the new stadium to be owned by the Cobb-Marietta Coliseum and Exhibit Hall Authority, which also owns the Cobb Galleria Centre and Cobb Energy Performing Arts Centre.