An effort to bring a Major League Soccer franchise and soccer stadium to downtown Albany is underway.

Business for Good co-founders Ed and Lisa Mitzen announced that they are seeking to redevelop Liberty Park at the corner of Hudson Avenue and Liberty Street.

They are working with a group of investors including real estate developers Jeff Buell and Chris Spraragen and professor soccer coach Steve Freeman.

The project is estimated to cost around $300 million, which includes both the stadium construction and mixed-use development on site.