Luton chairman David Pinkney has set the club a goal of moving to a new stadium within five years.
The Hatters have earmarked a site close to junction 12 of the M1 motorway, and Pinkney - who took the helm last month - wants rapid progress.
He said: "Clearly, we have to have targets, and ours is simple: in five years I want us to be in our new stadium, knocking on the door of the Premiership.
"Who knows? Others have done it, so why shouldn't we?
"With the recent appointment of Kevin Blackwell, who I believe to be one of the brightest young managers around, we have already begun that process."