Northampton Borough Council is in advanced talks with Northampton Town Football Club and the Homes and Community Agency on an agreement to that would pave the way for development in the Sixfields area.
At a recent meeting, the three organisations discussed plans that would enable regeneration in the area, which is part of the Northampton Waterside Enterprise Zone. The Homes and Communities Agency owns a large amount of the land in the Zone and the wider Sixfields area.
Any development would complement the unfolding plans for the Enterprise Zone and would attract businesses to invest and create jobs. This could ultimately see hotel and conference facilities, offices and retail use on the Sixfields site. The agreement would also enable to football club to move forward with the development of their stadium.
An initial agreement is expected to be signed in the next two weeks.
Cllr David Mackintosh, Leader of Northampton Borough Council, said: "We are close to a deal that would have real business benefits for the Enterprise Zone and also allow Northampton Town Football Club to move forward with the redevelopment of the stadium.
"This would be an investment in the local area that would provide facilities for the local community but importantly, it would support investment and employment in the Enterprise Zone.”
David Cardoza, Chairman of Northampton Town Football Club, said: "We look forward to bringing this matter to a conclusion and to continuing to work with Northampton Borough Council and the Homes and Communities Agency to maximise the benefit of the project for the club, the town and the wider community of Northampton.
"We have been working closely with the Borough Council and are delighted at the can-do attitude they are displaying.”