Sherman said Mayor Kevin Faulconer and members of his advisory group have put forth bold ideas and taken criticism, so he felt it was time to step forward with his own concept.
"Any plan to build a football stadium in San Diego should include an ironclad guarantee that the Chargers will remain in town for the amount of time it will take to pay off construction bonds" said Councilman Sherman. "I think we could really create a special destination here in Mission Valley.
He also said a stadium plan should include a park of at least 20 acres alongside the San Diego River, but not include any contributions from the city's general fund -- the account that pays for basic services like libraries and public safety -- to help pay for it.
Sherman's district includes the Mission Valley site adjacent to aging Qualcomm Stadium where a new playing facility would be built.
"So what we’ve done is looked at some of those proposals that have come up over the last 14 years here and tweaked them," said Sherman.
Sherman's plan is a mixed use master plan development built in conjunction with a new stadium.
"If we do this correctly, and plan for it, and develop this site along with a stadium, this could be a catalyst for economic development, it could institute the River Park Master Plan, and just be an overall economic engine and amenity here in the city of San Diego,'' Sherman said.
He said San Diego could even create its own version of San Antonio's River Walk, with a combination of housing, shops and restaurants.
With nightlife and parks, people could go to the stadium area any time, he said.
"A lot of times, people go downtown to the Gaslamp and those types of things,'' Sherman said. "They go there whether or not Petco (Park) has a game going on or not. The same thing could happen here.''
"This site is the center of the region, it’s completely undeveloped," said Gary London, of London Group Realty Advisors.
London worked on financing for the project. He estimated total cost of the project at $4 billion, with funding coming from the city venturing with private developers.
"I think we’re going to find a lot of candidates to come in who have the capability to do the project and have different visions to do it," said London.
London said the proposed development is a multi-phase project, at its highest potential it could have 3 million square feet of office space, 6,000 residential units and a 300 room hotel.
"My vision for this project is a 21st century vision of what Century city Los Angeles is," said London. "Where people can live, work, recreate and shop in the same location."
"We look forward to reviewing his proposals," said Adam Day.
Fox 5 reached out to CSAG and spoke with Chairman Adam Day. Day said they welcome Councilman Sherman's ideas, but the task force vision is more modest.
"$4 billion strikes me as a rather large number, but I look forward to reviewing the plans in detail and seeing what we can use and what we can’t use," said Day.
Former Chargers and Pro-Bowl Linebacker Shawne Merriman said the more options the better, because it's just one more way to get the Chargers to stay.
"If it’s a win win for both sides and things are good, good for the team, good for the city, there’s no reason why the team shouldn’t be here ," said Merriman.
Sherman also added the project should also include ways to mitigate the already congested traffic on Mission Valley roadways, and incorporate infrastructure projects planned for the area.
FOX 5 reached out to Chargers counsel Mark Fabiani, but we did not hear back.
The mayor's nine-member advisory group is in the process of developing stadium financing plans, which are scheduled to be issued next month.