The Town of Davidson has cut a deal for an option on about 22.5 acres off Potts Street on the West Side as part of a plan to develop the property. The Town Board will vote on the deal at its meeting Tuesday night.

Town Manager Leamon Brice told the board in a note last week the town has “successfully negotiated a purchase option with the Potts family.” Tuesday’s vote would authorize Mr. Brice to sign the contract, which is for an undisclosed price.

The town wants to draw up a master plan for the property, and then find a developer to carry out the plan. The property, in multiple parcels, is in a key location off Potts Street between Davidson and the Lake Norman YMCA.

“It is our plan to prepare a plan for the property with consideration of the surrounding properties and sell the option along with the plan to a developer who buys into the plan vision,” Mr. Brice told the board in his note.

If the town goes ahead with the purchase, it could hold a planning workshop for the property in October, town officials said Monday.