Plans have been drawn up for 400 homes at Llanelli's Stradey Park ground.
Plans for the land will be submitted to the council next week
The Scarlets want to move to a new 15,000-capacity rugby stadium on the outskirts of the town and sell their existing base to a housing developer.
A planning application, to be submitted next week, also includes a public park and play area where the pitch is currently situated.
The club is distributing leaflets about its plans to nearby homes and will hold exhibitions and open days.
Plans for the new stadium at Pemberton were passed at the end of last year.
To pay for the project the Scarlets need to sell the Stradey Park site that has been their home since 1879.
The club said it was not in a position to name the potential developer at this stage but said a traffic study showed the site was suitable for 400 homes.
It said these would be a range of house types, sizes and prices. Part of the pitch area would form a 'recreational space' and memorabilia from the ground would be salvaged and housed in a museum at the new stadium.
Club chief executive Stuart Gallacher said there would be an exhibition for local residents in the near future to give the public the chance to ask questions and view the plans.
"Stradey Park has been our much loved home for more than 100 years and has witnessed some of the most famous games in Welsh club rugby history," he said.
"These important memories will continue to be recalled with pride and will have a prominent place in our proposed new home.
"This is not about erasing our heritage - it is about ensuring the Scarlets' success, fame and passion live on."