The third stage of the Victorian government’s Melbourne Park redevelopment has been announced. $271.55 million will be committed to this most recent stage, the highlight of which is a new, 5,000-seat, sunken court and stadium.

The new entertainment destination will include a central terrace with an ‘elevated’ outdoor space, a function centre, and new media and broadcast studios.

Aside from the provision of improved facilities, this latest stage will ‘guarantee’ that Melbourne Park will remain the home of the Australian Open until at least 2036.

“Yet again, the state government is showing its belief that the Australian Open is one of the premier sporting and entertainment events,” says Tennis Australia chief, Craig Tiley.

Stage two of the Melbourne Park redevelopment – worth $338 million – was completed last year, and including a new pedestrian bridge by John Wardle Architects and NADAAA. Hassell was also commissioned for a new media and administration building, and a refurbishment of Rod Laver Arena by Cox Architecture is slated for completion in time for the 2019 Australian Open.

An architect has not yet been announced for the stage three development.