The home of University of Hawaii football and the former longtime host of the NFL’s Pro Bowl will be downsized and turned into an entertainment and sports district.

The redevelopment of Aloha Stadium‘s complex in Honolulu will be a three-stage project with the targeted re-opening of a 35,000-seat stadium in 2003, down 15,000 seats from its current capacity. The state of Hawaii has issued a request for qualifications for the project called the New Aloha Stadium Entertainment District with a total cost of $350 million, financed by the sale of general obligation and revenue bonds.

The state is considering three options for the stadium itself, two of which involve a new stadium constructed on the site of the entertainment district and the other involving extensive renovations to the existing venue. The current stadium has no premium seating or amenities and a renovation would have to include both along with club seats and the opportunity to sell partnerships and potentially the stadium’s naming rights.

There will also be work done around the stadium to include retail and office space, up to 1,800 residential units and a 620-room hotel on the 98-acre site over a projected five-year period.

The home of Hawaii football since 1975 was also host to the Pro Bowl from 1979 through 2016. This past season, the Rainbows drew an average of 25,000 fans. Aloha Stadium still hosts the Hawaii Bowl each season and from 1976–1987 hosted the Pacific Coast League’s Hawaii Islanders minor league baseball team.