Edmonton councillors showed support to the final vision for the Exhibition Lands, the project that will replace Northlands.
The 200-acre site will be home to nearly 10,000 people and a new LRT station.
The new station would be located just north of 115 Avenue, and Coliseum Station would be moved a few blocks north.
The plan is to build low-rise apartments, townhouses and duplexes near both LRT stations.
"You can see at this point in time that things have been moving along really, really well," said Ward 7 Coun. Tony Caterina. "We've known from the beginning that we’ve wanted some sort of density, but certainly not the high rises we see in other parts of the city."
City of Edmonton
Once the project is approved, development is expected to start near Concordia University and move north. The Coliseum and Northlands Park Racetrack & Casino will have to be demolished.
Mayor Don Iveson has high hopes for Exhibition Lands.
"[It's] close to Borden Park, close to the core of the city, close to the river valley, so there’s a lot going for it. I think it’s going to be a very special area once it's all built out."
The redevelopment will likely take 20 to 30 years, city planners said.
The city held an engagement session in June, and has another public hearing scheduled for the New Year.
With files from CTV News Edmonton's Jeremy Thompson