An ambitious plan to transform an area of Northern Ireland synonymous with discord and conflict has been unveiled, with leisure facilities as a central component.

The Maze prison – known to republicans as Long Kesh – was one of the UK's most notorious prisons and, over a turbulent history, was the scene of many violent episodes, including the deaths of wardens, escaping prisoners and IRA hunger strikers, 10 of whom died in 1981.

The Maze Consultation Panel was established in March 2003 with representatives from the Democratic Unionist Party (DUP), Sinn Fein, Social Democratic Labour Party (SDLP) and Ulster Unionist Party (UUP) given the task of making recommendations for the future use of the site.

Following a detailed public consultation, the panel has completed its report and is recommending that a sports zone be constructed on the 360-acre site, including a 30,000 capacity multi-sports stadium to accommodate Gaelic sports, football and rugby, all weather hockey pitches and training pitches.

Further leisure elements include a hotel and leisure village as the project – which is suggested to be worth around £1bn – would require significant private commercial investment, as well as a rural excellence and equestrian zone, encompassing an international exhibition centre.

In addition, the panel has called for the government to invest in developing an international Centre for Conflict Transformation, housed in some of the former prison buildings, which could be given listed status.

At the launch of the report, the panel chair, David Campbell urged the government and minister Ian Pearson, who will now review the proposals, to act quickly. "Given the risk of losing momentum because of the considerable time it could take to setup, we urge the minister to ensure an appropriate means of delivery is created as soon as possible."

Although the plans have still to be given the official go ahead, the agreement between the panellists has been seen as an encouraging sign. Pearson said: "I congratulate the panel members on their hard work in producing this report. In particular, I note that the text has been unanimously agreed by the panel members."