The announcement was made after eight years of talks with the Conservative-run borough council.
The £12m redevelopment will increase Sixfields capacity to around 10,000, besides adding a hotel, corporate boxes, and a conference centre.
According to Cllr David Mackintosh, leader of Northampton Borough Council, the redevelopment will include a housing scheme and small scale, local retail development on land, as well as adjacent land near the stadium.
As reported in Northampton Chronicle & Echo, about 300 houses will be built on land close to the stadium along with a gym, office space, and a coffee shop.
The project will redevelop the east stand, which would be twice its current size. The current west stand will also be re-developed to include 10 corporate boxes, creating an impressive approach to the town for those arriving from the south west.
Northampton Borough Council will loan the club up to £12m to start the redevelopment process, till the project breaks even. Various leisure facilities will be added to the scheme to make it self-sufficient, including the 100-room hotel.
The Sixfields recycling centre is expected to be relocated as part of the development along with the athletic track next to the football ground, reports Northampton Chronicle & Echo.
The hotel is expected to be built on the stadium’s west car park and could be linked to the ground by a bridge.
The football club is expected to pay the council back by 2017.
A planning application will be submitted in autumn 2013, with the scheme scheduled to be completed by the start of the 2014/15 season. The proposal is expected to come up before Northampton Borough Council’s Cabinet at its meeting on 17 July.
Sixfields Stadium is a 7,653-capacity all-seater sports stadium in Northampton, serving as the home ground of Northampton Town Football Club.
