Plans to create a state-of-the-art sunken skate-park, a new youth shelter and to re-vamp existing facilities, have been jointly submitted by Decoy BMX Club and Decoy Misfits BMX Dirt Club.
The park could be used by BMX riders, inline skaters and skateboarders.
Club member and Greenmachine BMX shop owner Paul Novis said: "We have been talking about it for 10 years and all of a sudden things have started to move.
"There are already some existing tracks down there and some jumps. There's another field area that was originally built for a skate park and we are hoping that's where it will go."
The clubs say the new skate-park will provide a space for youngsters to hone their skills and will stop them from practising in the town centre.
The 170sq metre concrete bowl is low maintenance and will create minimum noise levels when in use. Plans for the wheeled sports area also include the installation of CCTV, new perimeter fencing and the relocation of an existing building and new landscaping.
The site, which is 200 yards away from the houses in Coach Road, would be open from 9am until 9pm everyday.
Consultation has been carried out with residents and new lease agreements will be drawn-up for both clubs.
Decoy Country Park rangers, the police, Newton Abbot Town Council, nearby Newton Abbot Football Club and Sport England have also been asked for their views on the scheme.
In a statement which accompanied the application, the clubs said: "For many years there has been a strong desire to locate a state-of-the-art skate park at Decoy Country Park for young people.
"The proposal is a much-needed youth facility for Teignbridge in a location that lends itself to the development of wheeled sports and complements existing BMX facilities."
A Teignbridge spokesman said: "In its role encouraging sports and leisure, the council has supported the aspirations of the Decoy BMX Club to bring a wheeled sports facility to the Green Flag Award winning Decoy, and has provided advice to the club with regards to the preparation of their application.
"It will be considered objectively and will be subject to consultations."
