Indy Eleven are looking to build a $550m (€435m) mixed-use development as part of their bid to become a Major League Soccer expansion club.
The USL Championship team currently play at Lucas Oil Stadium and are looking for a permanent home in Indianapolis.
The development, called Eleven Park, plans to include apartments, retail space, office space, a 200-room hotel, public space and a parking structure.
A proposed 20,000-seater stadium is slated to be built by 2022 and its design would allow for future expansion.
“This is more than a stadium,” Ersal Ozdemir, president and chief executive of Keystone Construction, Keystone Realty Group and owner of Indy Eleven, said in a statement: “It is the opportunity to create a vibrant community that will attract individuals and families from near and far to live, work and play.
“We believe that the Eleven Park development will improve quality of place in Indianapolis by creating an entirely new neighbourhood that will help attract and retain quality workers and families.”
The possible location of the development has yet to be announced while some public funding will be sought.
Indy Eleven are one of a number of teams looking to become an MLS expansion team. MLS has said it is likely to expand beyond 28 teams in the future.