Melbourne's sporting centre will be expanded under a major new development scheme.

A multi-million dollar redevelopment of Melbourne's sporting hub at Olympic Park is set to be completed by next January.

The program is a joint project between the Federal Government, Collingwood Football Club and Melbourne and Olympic Parks.

The new centre will open up the precinct to the public with a range of facilities for greater community use.

It will include a new, split-level sports, events and training complex connected to the Westpac Centre and adjacent to a new MCG sized sports oval being built on the Olympic Park site.

The public will be able to access elite training facilities and use Collingwood's own facilities.

The development, costing upwards of $30million, will include a range of features designed to host major community events and operate health and fitness programs.

There will be a special emphasis on providing a safe training environment for women, on connecting links to the Tan Track and Yarra River bike trails and to providing special opportunities for grass roots sports clubs and community groups.