Details have been released on an ambitious pitch to redevelop the Coliseum and surrounding area.

The plan has been dubbed Agora Borealis – and has been put together by a group of engineers, architects, and investors.

The design includes plans for redeveloping the Coliseum and the land the arena sits on – the development features a mix of housing catered to seniors, students and rental apartments, a hotel and a grocery store, restaurants and retail stores.

Developers said they submitted their proposal to the City of Edmonton on Friday – and said as of Monday evening, they had not yet received a response.

The City’s website says it has three to six weeks to evaluate a pitch, depending on the complexity of the plan.

A spokesperson said the group hopes the pitch will stop any plans to demolish the Coliseum, and the group plans to collect feedback from the community, falling in line with the City’s sponsorship agreement.

A potential cost for the project has not been released.

The City is currently spending $1 million per year to maintain the Coliseum.