Yankee Stadium is a baseball venue located in the South Bronx, and the home ballpark for the New York Yankees, one of the city's Major League Baseball(MLB) franchises. It opened in 2009 replacing the original Yankee Stadium, which opened in 1923 and closed in 2008. The new ballpark was constructed across the street, north-northeast of the original stadium. Much of the stadium architecture incorporates design elements from the previous Yankee Stadium to pay homage to Yankee history. Although stadium construction began in August 2006, the project of building a new stadium for the Yankees is one that spanned many years. It is the most expensive baseball stadium ever built in the country.