An earlier plan for a larger redevelopment was rejected.
The ground was opened in 1906, and underwent a large redevelopment in 1953.
The area contains a Bloomingdale's department store as part of a larger redevelopment of the block.
A larger redevelopment is expected to be announced sometime in the future.
Another large redevelopment is planned to take place in 2012.
It will also be a catalyst for large redevelopment including condos, hotels and the city's tallest office tower at 801 Albert.
But since the mid-90's, city officials have seen the stadium as the catalyst for larger redevelopment.
It will be part of a $2.5 billion complex, the largest private urban redevelopment in Japan, with residential towers, movie complexes, restaurants and shops.
During the late 1930s, the construction industry was experienced enough to build large, multi-block urban redevelopments - although all of these were in Moscow.
Today, the Baltimore Development Corporation is overseeing a large redevelopment for the area.