The urban development project is based on a development agreement between Hillerød Municipality and Stadionkvarter Favrholm ApS, which is owned by Propreco and other partners. On 19 December 2019, Propreco's subsidiary, Stadionkvarter Favrholm ApS made a development agreement with Hillerød Municipality concerning an area of 95 hectares located in the Favrholm area close to central Hillerød. 

Favrholm is also home to the future super hospital for North Zealand (with over 4,000 employees), 1-2 train stations and an important part of the overall urban development in Hillerød and its large expected population growth (with an increase of approximately 10,000 inhabitants over the next 10 years). A key aspect of the development is Danish super league football club, FC Nordsjælland moving to the newly built stadium in the new Stadium Neighbourhood, which will also house FC Nordsjælland's international academy for talent and personal development. 

This urban development will include approximately 250,000 sqm of residence, minimum 50,000 sqm of commercial properties and large areas for FC Nordsjælland's facilities, service functions, different sports, public purposes, and other common facilities.