SpaceX is getting closer to making its next big rocket a reality. The company has chosen to build its “BFR” rocket in the Port of Los Angeles, pending city approval.

Los Angeles’ mayor revealed the news during his “state of the city” speech on Monday. A final lease agreement for the proposed project will come before a city harbor commission on Thursday.

“SpaceX has called the Port of Los Angeles home to our west coast recovery operations since 2012 and we truly appreciate the City of Los Angeles’ continued partnership,” the company’s president Gwynne Shotwell said in a statement.

The BFR is part of SpaceX’s plan to send humans to the Moon, Mars and beyond. Last September, the company’s CEO Elon Musk unveiled the design for the next-generation rocket, which will eventually replace its current Falcon 9 and Falcon Heavy models.