ST KILDA will need to raise $5 million to contribute to a redeveloped Moorabbin as the Saints prepare to return to their former home ground.

Saints CEO Matt Finnis said on Wednesday the proposed project would cost $28-30 million, with the club one of several parties funding the redevelopment, which would house the Saints and become a hub for local football.

"The club itself will have to raise significant amount of money, which other clubs have been able to do to support their home bases," Finnis told RSN on Wednesday.

"The club will be looking to raise about $5 million over the next couple of years."

The return to Moorabbin received a huge boost on Monday night when the Kingston City Council agreed to provide $5 million to the project on top of commitments from the State Government ($8 million) and AFL (about $5 million).

St Kilda began 'The Saints Marching Fund' in 2014 to raise capital for investing in strategic initiatives and dealing with debt.

Finnis said the club was confident the $5 million target could be achieved.

"That is the target and you have to be smart in the way you go about that, but the evidence is there from other club experiences, and talking to our people we'll have every opportunity to get that done."

St Kilda played AFL games at Moorabbin between 1965 and 1992 and retained the venue as a training base until 2010.

The Saints then moved to Seaford but have been keen to return to Moorabbin, which is closer to their heartland and a venue that evokes fond memories among supporters.

Finnis hopes the likely return to Moorabbin will attract more members too.

"We have 32,000 supporters now but we know we need a lot more than that and we know we have got a big supporter base out there and we think [being based at Moorabbin] will help us connect with them," Finnis said.