Boston United will begin construction work on their new stadium this year.
Pilgrims chairman David Newton told supporters the news at Wednesday night’s Fans’ Forum.
The Quadrant development is set to initially include a new ground for the club, community sports hall, 500 hundred houses and retail units.
Work has already begun on the homes and infrastructure, but Mr Newton also gave supporters the news they have been waiting to hear.
“The main thing is we will start this year,” he said. “We will definitely start building this year.
“Our aim is still to build the whole thing in one go.
“We don’t want to phase it. The worst case scenario is that we’ll have to phase it and do the sports hall as a second phase.
“But we want to do the whole thing, that’s why we’re not starting just yet.”
Mr Newton revealed that the club has now hired a full-time surveyor to work solely on the construction of the ground, while discussions continue with firms - believed to include restaurants and a hotel chain - with regards to moving into the site.
The club say they will soon be launching a series of fundraising drives, as well as bidding for additional cash, following the rise in construction prices.
“In terms of the stadium, the costs are a lot higher than we thought they were going to be,” Mr Newton continued.
“We looked at this mid-recession, when we first priced it up, and the costs have rocketed in construction since then. Particularly on steel, that’s gone through the roof.
“We’re looking at changes trying to drive costs down.
“We will be putting further funding bids in as we are short on funding and we will launch fans’ initiatives.”
Mr Newton also told those in attendance at York Street’s Pilgrim Lounge that work on the road set to link the site to London Road will begin this summer, while completed homes will be on the market by early 2018.
He continued: “We’re getting there gradually.
“In terms of the Quadrant as a project, we’ve got the roundabout in on the A16, and that didn’t cause too many traffic problems.
“We’ve now got the dual carriageway in on the site to the sourthern and middle of the site, now we’re taking the next leg through to London Road.
“That will be quite a big job and we’ll start that about July.
“We have to widen the road and it’s quite a challenge, but we’ll get that done before Christmas.
“We’ve started the housing on the site, and they’ll come through early part of next year.
“Quite a lot of money for the stadium is coming through the development itself. We need to get the houses sold to bring money in for the stadium.”
United have extended their lease at the Jakemans Stadium until the end of the 2018-19 campaign.