Tottenham Hotspur today confirmed its intention to build a 60,000 capacity stadium on the football club's existing White Hart Lane ground in North London, with the team able to carry on playing throughout the build.
The Northumberland Development Project, which will be unveiled at a pubic exhibition later this month, covers 8HA including the new stadium and an adjacent industrial estate.
Haringey Council leader George Meehan said he was delighted Spurs had decided to stay in the borough.
"Tottenham would not be Tottenham without its football club."
The plans include a new 60,000 seat stadium, a club museum, shops, homes and a new public space.
Tottenham Hotspur chairman Daniel Levy emphasised the strong links of the club to the local area as it launched the public consultation project.
"We have been in this borough for 126 years" he said. The club now wants to hear the views of local people on what could be a significant boost for the local economy.
David Lammy, MP for Tottenham said: "It is fantastic news that Spurs have decided to renew their commitment to the people of Tottenham."
Spurs announced the Northumberland Development Project at the same time as their financial results to June 2008.
For the year ending 30 June turnover was up 11% and the building of a new training centre is expected to start next year.
Revenue was up from £103m to £114.8m with the team's victory in the Carling Cup in February partly credited for the rise.