LOUISVILLE, Ky. (WHAS11) – The city of Louisville announced a $200 million development in the Butchertown neighborhood anchored by the Louisville City Football Club soccer stadium.

Mayor Greg Fischer calls this an exciting project that will take an underused piece of land at Cabel and Adam Streets and turn it into a vibrant stadium district.

"I think when you look at this partnership, I think it's actually the best description of a partnership. I think the soccer team obviously gains by getting a stadium, but when you look at the re-development that's going to happen around the stadium, I think the gain for the community is double-ended, especially for our supporters,” LCFC Head Coach James O’Connor said.

With the Metro Council’s approval, the city will also work with Louisville City on an application for a mixed-use TIF, or tax district, for the project.

A city-commissioned feasibility study calls for the soccer-specific stadium be built by 2020.

To read more about the project, click here.