A high-powered group of Ottawa businessmen unveiled a multi-million dollar plan Friday to revitalize Lansdowne Park and rebuild a future for professional football in Ottawa's Glebe neighbourhood.

The Lansdowne Live proposal, which promises to redevelop the area into a "people place," includes a world class sports and entertainment stadium, a refurbished arena, aquarium, exhibition space, an amphitheatre, formal gardens and ponds, shopping, a home for the Farmer's Market and a new hotel.

"We believe that for too long Lansdowne has been a destination for too few. This is Ottawa's Jewel; a central location, easily accessible to residents from north, south, east, and west. It belongs to all of us, and yet for too long it has been neglected and ignored," said Roger Greenberg, chairman and CEO of The Minto Group and a partner in the bid to bring CFL back to the capital

A new kind of fishing along the canal?

The most dramatic change would see Canada's first walk-through aquarium built inside the Aberdeen Pavilion, with transparent tubes for people to "walk with the fishes."

Turning the old "Cattle Castle" into an aquatic zone, even without harming its heritage, has already drawn criticism. But William Shenkman, chairman of the Shenkman Group of Companies, called the idea an incredible draw.

"Kids love it, and parents therefore love, it and schools love it," he said. "But, if the city fathers decide it doesn't make sense, then I guess it doesn't make sense. We're not pushing any of this down anybody's throat. We're just making a proposal."

The partners, which include Greenberg, Shenkman, Ottawa 67's owner Jeff Hunt, and John Ruddy, president of Trinity Development Group, are prepared to commit $120 million to fund the project.

"We are not asking the city for any new taxpayer dollars. Lansdowne is a public asset. It's owned by the city and that's the way it will stay," Greenberg told reporters at an afternoon press conference.

"Currently, the city invests millions of dollars in Lansdowne every year. It pays for operations and basic services but not more. The buildings and infrastructure have been deteriorating at a rapid pace and they continue to do so. Last summer's demolition of the lower south-side football stands is one example but there are many more," he said.

Taxpayers would not face additional costs beyond what the city already spends on the facility.

The CFL awarded the group a conditional expansion franchise for an Ottawa football team in March. So far, there is no specific timeline for Ottawa's return to the league.

Ottawa has been without a CFL club since the league was forced to mothball the Renegades franchise prior to the 2006 season.

Competing football, soccer stadium plans

The Lansdowne Live plan was released one month after Senators owner Eugene Melnyk unveiled a plan for professional soccer and a new stadium near Scotiabank Place in Kanata.

Mayor Larry O'Brien said he tried to get both sides together in recent weeks, but "they had no interest in working together."

He called the Lansdowne plan intriguing.

"They seem to have come up with a formula that will let us make an investment in our city at a time when our economy is under some pressure, without necessarily increasing day-to-day operating expenses," O'Brien said.

Capital Ward Councillor Clive Doucet, though, said Friday's proposal should be part of a competition to determine Lansdowne Park's future.

"They should be part of that national and international process that we had, rub shoulders with other people, and come up with the best plan," Doucet said.

"Frankly, I think we'll see better stuff come forward."

Bob Whitelaw, the president of the Glebe Community Association, agreed with Doucet's critique.

With a report from CTV Ottawa's Norman Fetterley and files from The Canadian Press