Luton boss Nathan Jones says the club's new stadium will benefit the whole area, after 3D plans were released.
The League Two Hatters are set to submit a planning application before the start of next season.
The hope is to build a 17,500-capacity stadium at the Power Court site.
"It's not just your generic stadium, and with the retail outlets around it, the concert venue and the sports arena, it looks excellent and very exciting," Jones told BBC Three Counties Radio.
"It will be fantastic for the football club and also for the surrounding area. Without being disrespectful to anyone, I think the area needs something like that to regenerate it and revitalise the whole area."
Luton currently occupy the 10,356-capacity Kenilworth Road, their ground since 1905, and are 13th in the League Two table.
Welshman Jones has been in charge of the club since January with the club having had a run of one win from their previous nine games.
Since his appointment, the side have won 10 of their 18 games under the former Brighton coach and he wants to see progress in all aspects of the club.
"I think on and off-field progress has to run parallel," he said.
"I've been entrusted to do the on-field stuff and I think right now the people of Luton are seeing plans off the pitch but I hope that they're also seeing things are in place on the pitch.
"We've made good progress, and quick progress and I feel we're in a good place. I feel in a good place myself and moving forward once we trim it and improve the squad and have more time to work with it, we should be a better team as well."