ARLINGTON, Texas (AP) — Arlington, Texas, has been selected to become the new home of the $150 million National Medal of Honor Museum.

Joe Daniels, president of the museum’s foundation, announced the decision Wednesday, calling Arlington “the optimal location to build America’s next treasure.”

Planned for construction near Arlington’s Globe Life Park and AT&T Stadium, the first national museum of its kind would open to the public in 2024.

“Arlington, Texas is honored to be entrusted as the home of the National Medal of Honor Museum,” said Arlington Mayor Jeff Williams in a statement. “Located in the heart of our nation, we look forward to commemorating the stories of the 3,500 Medal of Honor recipients to educate, inspire, and motivate our youth to understand the meaning and price of freedom. We are excited and humbled to provide a national platform to spread this message throughout our great country.”

The museum is currently aboard the USS Yorktown in Mount Pleasant, South Carolina, but the foundation wanted to move it onto land. A planning board last year rejected a design proposal for the museum along the waterfront in Mount Pleasant.

New York City, San Diego and Washington, D.C., were among the finalists before the foundation narrowed it in July to Denver and Arlington.

The museum honors more than 3,500 recipients of the nation’s highest award for valor.

In anticipation of the final site selection, the NMOHM issued a Request for Qualifications (RFQ) in August to the top architectural firms in the country that had expressed interest in designing the museum. A formal Request for Proposals will be provided four firms, based on the responses to the RFQ. The NMOHM Board expects to select the Museum’s architect in early 2020.

In addition to building its Arlington home, the National Medal of Honor Museum Foundation said it will work with the United States Congressional Delegation from Texas to create the first-ever monument in Washington, D.C., dedicated to honoring the more than 3,500 Medal of Honor recipients. The Congressional Medal of Honor Memorial will join other national landmarks in the nation’s capital, and draw a maximum level of visibility and support from every corner of the United States.