The City of Irving appears close to a deal with a California developer to plan a "mixed use" project on the land around the site of the old Texas Stadium.
City leaders on Wednesday met with representatives of the Oliver McMillan Company, a major developer based in San Diego.
The developer wants a six-month exclusive agreement with the city to come up with a plan for the land, which has been vacant since Texas Stadium was imploded four years ago.
The development plan would almost certainly include a mix of residential, retail and office buildings, city leaders said.
The City Council appears poised to approve the deal Thursday night after developers met with council members in private session Wednesday afternoon.
"I think what they brought to the table today is everything that the citizens and the businesses have been asking for,” said Irving Mayor Beth Van Duyne. “The devil is always in the details. What this is doing is allowing us six months to work out the details. But right now I am very optimistic."
Texas Stadium was home to the Dallas Cowboys from 1971 to 2008. Following the stadium's implosion in 2010, the city has leased the property to the Texas Department of Transportation to store material for nearby road projects but has wanted a long-term plan to develop the land.
In an 8 to 1 vote, Irving City Council voted Thursday to enter into a six-month exclusivity agreement with the developer to come up with a plan for the Texas Stadium old property.