Some 1,200 new homes could be built in an Oxfordshire town under regeneration plans discussed on Monday.
Cherwell District Council's executive discussed whether the Canalside in Banbury can be incorporated into the Local Development Framework.
If agreed the council could further regenerate the area, including finding a new home for Banbury United FC.
It was agreed to keep a watching brief over the idea and the council has until 2026 to decide.
But the council said it would be dependent on a Banbury flood alleviation scheme going ahead.
Councillor Michael Gibbard, the council's member for planning and housing, said: "This site is far from straightforward.
"In particular, it will be necessary to work closely with landowners to assist in the relocation of existing businesses and to find a replacement site for Banbury United Football Club.
"But our vision is for sustainable development close to the town centre and the railway station."
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