There are plans to build new housing on the site of the boys club that produced some of the Tyneside's greatest footballing heroes.
North Tyneside Council is negotiating to buy the remaining lease of Wallsend Boys Club's former home on Station Road.
It would allow the authority to build new houses for the first time in more than 20 years, creating 12 new homes.
And the money would help the club fund a new indoor sports space and office accommodation at its base at Bigges Main.
The boys club was responsible for nurturing the talents of Newcastle United legends Alan Shearer and Peter Beardsley, Lee Clark, Steve Bruce and Michael Carrick.
North Tyneside Elected Mayor Linda Arkley said: "I’m absolutely delighted we have been able to develop this proposal.
"We still need to finalise the legal agreement, however negotiations with Wallsend Boys’ Club are going well.
"Not only will it help to meet housing needs, particularly for older residents, it’s an opportunity to support growth and jobs in the borough."
On February 29, 2012, Wallsend Boys Club demolished its old buildings following the collapse of a gable end wall due to high winds.
The council has also announced plans to build up to nine homes on the site of Byrness Court sheltered accommodation scheme in Battle Hill.
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