ATLANTA -- The Georgia World Congress Center Authority and the Atlanta Falcons confirmed Wednesday that they are working toward construction of a new retractable roof stadium to replace the Georgia Dome, which would be demolished.

The new plan would replace plans for an open-air stadium on a site north of the World Congress Center that would have operated in tandem with the existing Dome.

Both the Falcons and the GWCC Authority said it would make more financial and logistical sense to build a single $948 million retractable roof stadium than to retrofit the Georgia Dome.

A joint statement from the Falcons and the Congress Center authority said: "Both sides remain committed to reaching an agreement in the near future on a long-term stadium solution that is in the best interests of the community, Falcons fans, the city of Atlanta and the state of Georgia."