Melbourne Park is to undergo a multi-million dollar transformation, which will see a new retractable roof and an additional 1,500 seats installed in the Margaret Court Arena.??

A new Eastern Plaza will be constructed to house 21 new courts, as part of the $363 million first stage of the redevelopment that was announced today by premier John Brumby.

The masterplan has been created by Cox Architects and Populus.

Melbourne Park is part of the Melbourne and Olympic Parks Precinct, which each year hosts around 600 events and attracts more than two million people.

“Victorians are passionate about their sport and the Australian Open is one of the major highlights on Melbourne’s world-class international sporting calendar,” Brumby said.

“This major redevelopment is the single biggest investment in the precinct since the Australian Open moved to Melbourne Park from Kooyong more than two decades ago and it will ensure Melbourne continues to lead the way as the world’s best sports city.”

Immediate works would begin shortly after the Australian Open and should be complete in time for the 2015 tournament. The masterplan includes improved connections between Rod Laver and Hisense Arena, the installation of new underground water recycling facilities and re-landscaping of the oval.

Tennis Australia President Geoff Pollard said the redevelopment provided a major boost for the tournament and the future of the game in Australia.

“This is an historic day for tennis and the culmination of a lot of work by a lot of people,” Pollard said.

Melbourne and Olympic Parks Trust Chairman Russell Caplan said the announcement would help Melbourne Park continue to attract big events.

“This redevelopment reinforces our position as the world’s premier sporting and entertainment precinct,” Caplan said.