Plans to redevelop an area of derelict land in Gloucester known as the railway triangle have been unveiled.
The proposals, which include a Morrisons food-only supermarket and light industry units, could create up to 1,000 jobs.
Owner Network Rail has agreed to sell the 15-acre site to developer LXB.
Gloucester's conservative MP Richard Graham said it was "the most promising proposal yet in the long history of proposals".
About 400 jobs would be created at the supermarket alone.
The site has been unused for more than 20 years.
'Very live proposal'
Previous plans have included a snow dome, an ice rink, a new stadium for Gloucester Rugby and hundreds of new homes, but none of the schemes have got off the drawing board.
Chris Oldershaw, chief executive of the Gloucester Heritage Urban Regeneration Company, said: "The difference now is we have a very live proposal from Morrisons.
"I'm sure they'll be working to a very tight time scale and LXB are very keen to move forward on this project very quickly.
"It's a very interesting proposal. We do need to explore these issues with [the developers] in detail."
Consultation will now take place to see if the scheme can go ahead and a planning application could be submitted before the end of the year.
The development would be funded through the private sector.