"It's a large patch of undeveloped property that provides an important opportunity for us," said Alderman Michael O'Connor.
Wednesday, the Board of Alderman reviewed reports from the Urban Land Institute regarding development on the land. The presentation came after East Frederick Rising, a nonprofit partially funded by the city, came forward with a plan to maximize the development opportunity several years ago and has been working at it ever since.
"We developed a vision plan calling for mixed-use, higher density, energy efficiency, very environmentally friendly with the extension of a park," said Sen. Ron Young (D), who also help put together the East Frederick Rising committee.
Locals in the area were also excited about the economic growth possibilities that may stem from the project.
"I think its a good idea if its unused space," said Sara Sier, of Frederick.
With a preliminary plan in hand, Sen. Ron Young says some areas like the park will be financed publicly but most of it will be done privately.
"Hopefully almost all of this will be developed privately in accordance with the vision plan we've laid out," said Young.
Copyright 2016 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.