President Frank Costa told the Geelong Advertiser that the club would build a northern stand and extend the old Reg Hickey Stand so that it merged with the eastern stand.
Under the plan, the Ross Drew Stand and the Past Players' Stand would be demolished for the southern end extension while the new northern stand would be built behind Gary Ablett Terrace.
Costa said the project - which will start in three years time if the club can secure enough funding from the state and federal governments, the AFL and the City of Greater Geelong and be completed by 2020 - would be split into two separate five-year stages, beginning with the southern end extension.
"To ensure that football will continue to be played here, we have to move forward," Costa said.
"We can't stand still, otherwise we will be under pressure to play more games in Melbourne and we want it to be the other way around."
"So the development will be ideal for Geelong because it will give us a colosseum-style ground with at least 36,000 capacity."
"There will be grandstand seating right around the ground."
