Harvard University filed an official draft of its Institutional Master Plan for Allston development on Thursday.

The plan outlines nine major proposals for Harvard’s properties across the Charles River, all of which the University expects to complete within 10 years. These proposals include a renovation of Harvard Stadium and the construction of a new basketball stadium, remodeling and construction of several Harvard Business School buildings, and the construction of a hotel and conference center near the current Charlesview site.

In addition, it designates a parcel of land in North Allston as a “mixed-use” parcel to be used for future University and community development.

Harvard Executive Vice President Katie N. Lapp said that the development will benefit both the University and Allston residents. “[The development] will provide critical physical improvements serving key academic needs while establishing Barry’s Corner as a nexus of University and community interaction that will be transformative for Harvard and the Allston community,” she said in the Harvard Gazette.

University Provost Alan M. Garber ’76 said that the Allston development will serve as a creative space for science. “Allston presents the University with the opportunity to develop a unique innovation hub. It will be focused on both teaching and research in translational life science and engineering,” he said in the Gazette.

—Staff writer Mercer R. Cook can be reached at mcook@college.harvard.edu.

—Check TheCrimson.com for updates.