The proposed hub will be focused on a high-performance facility to primarily be accessed for a range of "Olympic-type sports", centring on athletics, as well as meeting increased demands for AFL football and cricket.

Council general manager Robert Dobrzynski said the council had been in talks with the University of Tasmania to utilise its inner-city campus in a joint partnership.

The ambitious push would also further enhance Aurora Stadium as more than just the football ground it was for decades under its York Park name.

"That's probably a significant part of where we see the stadium going in the future," Mr Dobrzynski said.

"There will be some commercial activity that's there.

"We think there is a good base case to focus on a high-performance facility and if we can partner with UTas that can also fit into a lot of the university courses that they are providing.

"But we would also hope there would be some more community opportunity for using some of the facilities as well.

"So it's around that area that we see a focus as well in terms of enhancing that facility."

It would also coincide with the university's proposal to shift its headquarters from Newnham to Inveresk.

The centre of excellence would be highlighted by recovery facilities, high-performance measuring devices and "additional activities" for sport, according to Mr Dobrzynski.

"We'd look at what the contemporary standards are for those sorts of facilities now - that's sport education and sport science, which are a big part of university courses," he said.

The council has been working on a masterplan that entertains its investment in the future to "maximise flexibility, content, commercial and community returns".

Mr Dobrzynski believed the proposed facility would create additional employment and positive social and economic benefits.

"We also want to work with the Tasmanian Institute of Sport and want to work with increasing commercial and community use of these high-performance facilities to provide those additional services in the precinct," Mr Dobrzynski said.

"We do that with a range of stakeholders - clearly UTas, in terms of their course content offering that could augment that, in terms of community use of those facilities, but also making attractive to elite teams, AFL development squads and also elite individuals."