The former Doncaster Bloodstock Sales Building is finally set to be sold off for £2 million - nearly 10 years after the council first decided to put it on the market.
The 4.3 acre site at Carr House Road, close to Doncaster Racecourse, was home to hundreds of horses for trading for many years before moving several years ago to a new base at Sandall Beat Road.
The Doncaster Council-owned site has been vacant for a number of years and the remaining buildings were allegedly set on fire by arsonists in January.
The authority first agreed to sell it off in February 2008 - but a buyer could never be found.
However, a house builder has now approached the authority offering to buy the site and transform it into a residential development.
A report due to be heard by the council's cabinet at a meeting next week recommends the site should be sold off for £2 million.
The report, led by Peter Dale, director of regeneration and environment for Doncaster Council, states: "The sale of this asset will generate new housing development for the borough.
"New developments will generate growth in the local economy and create and support local job through development and associated local infrastructure."
The land was advertised earlier this year and the council received six offers from potential buyers.
The report states: "The most favourable bid was submitted by a local house builder.
"Their proposed scheme is for residential houses to be built throughout the site with an element of public open space on site as well as affordable housing provisions as per the planning policy."
The firm is not named in the report and it does not state how many properties could be built.
However, they will be a mixture of two and three bedroom sized properties.
The report seeks approval from councillors to allow the proposed sale to move forward.
It will be discussed at the cabinet meeting held at Doncaster's Civic Offices on Tuesday, August 15, at 10am.