A huge vacant lot at the former site of the world-famous Tsukiji fish market in central Tokyo will turn into a commercial and residential complex featuring a 50,000-seat stadium, a culinary center and a transportation hub slated to open in the 2030s.

The Tokyo Metropolitan Government selected a private consortium led by Mitsui Fudosan last week to be in charge of Tsukiji’s massive redevelopment to turn the waterfront land into the new face of Tokyo.

The metropolitan government plans to sign a basic agreement with the consortium by the end of this fiscal year.