Fremantle Council has unanimously approved a Masterplan for the redevelopment of the Fremantle Oval precinct.
The latest endorsement comes after a second round of community consultation in which 113 submissions were made.
The Masterplan provides a vision for the historic venue, and would deliver better football facilities, a more enjoyable spectator experience, more opportunities for community access and the potential for affordable housing, while still retaining its charm with the refurbishment of Victoria Pavilion.
The City of Fremantle, along with its project partners the South Fremantle Football Club, the Fremantle Football Club and the Western Australian Football Commission, will use the Masterplan to proactively seek financial support from both State and Federal Governments in the lead up to next year's elections.
The City has already applied for funding under the Commonwealth's Housing Support Program - Community Enabling Infrastructure Stream and is awaiting an outcome.
Fremantle Mayor Hannah Fitzhardinge thanked the community for being involved in the process.
"We've taken all the community's feedback into consideration. We've heard that, among other things, heritage and sightlines to neighbouring historic sites are greatly valued, and sustainable housing density is generally accepted.
"This project has been on the City's radar for more than a decade, so it really is now or never, to bring this beloved place up to scratch for the next generation.
"We believe that Fremantle Oval is a destination of state significance, that is capable of hosting sporting fixtures, concerts and events for medium-sized crowds.
"The sporting facilities are in desperate need of an upgrade and have been for some time. But we also see opportunities for new uses of this prime location in the heart of Fremantle that would benefit the commercial city centre and the wider community.