Stadium is new in neighbourhood (5)
I believe the answer is:
arena
'stadium' is the definition.
(eg a sports arena)
'new in neighbourhood' is the wordplay.
'new' becomes 'n' (common abbreviation eg NT for New Testament).
'in' means one lot of letters goes inside another.
'neighbourhood' becomes 'area' (a neighbourhood is an urban area).
'n' placed into 'area' is 'ARENA'.
'is' is the link.
(Other definitions for arena that I've seen before include "Action space in centre of amphitheatre" , "Circus ring" , "Auditorium" , "park" , "Field of conflict" .)