Over the last five years, the Green Bay Packers have purchased over 28 acres of land nearly Lambeau Field, Tony Walter of the Green Bay Press-Gazette reports.

The Packers have spent $27 million dollars on the land, which they hope to develop into a sports and entertainment district. The project sounds similar to the "Patriots Place" complex in Foxborough, Massachusetts, which includes Gillette Stadium, entertainment venues, shopping and retail stores, a health care center, and a hotel.

Walter says that team and local officials are informally calling it the "Titletown District", which has included the:

- Purchase of 21 parcels of land since 2006 and paid $321,683 in 2009 property taxes.

- Paid about $10 million over the fair market value for the land.

- Retained Hammes Consulting of Milwaukee--the same firm that supervised the renovation of Lambeau Field in 2002--to prepare potential designs for development both west and south of the stadium.

"Potential development around the stadium could really help the local economy, create jobs and bring more people to the area," Packers CEO Mark Murphy said.

It would also help the Packers increase the revenue it doesn't have to share with the other 31 NFL teams.