TORONTO - Toronto FC added some home-town flair in Dwayne De Rosario on Friday, acquiring the all-star attacking midfielder from the Houston Dynamo in exchange for defender Julius James and allocation money.

De Rosario is a three-time all-star and four-time MLS Cup winner with Houston and the San Jose Earthquakes. The 30-year-old Canadian international has 51 goals and 42 assists in his eight MLS seasons.

"Dwayne is a player we've admired for quite some time. When the chance came to work with Houston to get this deal, we were obviously very happy," Toronto director of soccer Mo Johnston said in a statement.

At the other end, the deal gives the Dynamo some needed salary cap room and a young defender.

"Over the last few days, it became apparent that this move was necessary," Dynamo CEO Chris Canetti said in a statement. "Before the trade, our salary cap limitations precluded us from making any significant moves. We now have plenty of flexibility on how we want to build our roster and field another very competitive squad, both domestically and internationally."

De Rosario was Houston's highest-paid player last season at US$325,000.

He will add playmaking skills to a Toronto offence that managed just 34 goals in 30 games last season to rank 13th out of 14 teams.

De Rosario, a Toronto native, has won the MLS Goal of the Year award twice, in 2004 and 2005, and was a finalist in 2006. He turned pro at age 18 in 1997, signing with the Toronto Lynx of the A-League.

Houston head coach Dominic Kinnear said the move "is in the best interest of everybody."

James played 13 games during his rookie season in Toronto, earning US$44,750. The 24-year-old won his first cap for Trinidad and Tobago in September.

He was the ninth overall selection in the 2008 SuperDraft out of the University of Connecticut.

"Julius is an aggressive, fast defender that fits really well in our style of play. I think he has a very bright future, not only in our club, but also in Major League Soccer," said Kinnear.

A Toronto official said both Johnston and De Rosario were not immediately available Friday.