The WACA released its latest redevelopment plans on Thursday, with the association keen to turn the ground into a boutique 10,000-seat stadium, with the prospect to expand to 15,000 for certain events like concerts.

It's hoped the $75 million redevelopment will also convince the WAFL to play football at the venue again.

The WACA is committed to raising $10 million through philanthropy means, and Cricket Australia has committed $4 million.

But it still leaves a shortfall of about $60 million, which the WACA hopes will be filled by the Federal Government and WA State Government.

The opening of the nearby 60,000-seat Optus Stadium means the WACA no longer hosts big-drawing cricket matches.

The Perth Scorchers play all of their matches at Optus Stadium, while international T20 and ODI cricket - as well as high-drawing Test matches - are also played at the Burswood venue.

Sheffield Shield cricket, women's cricket, and low-drawing Test matches will remain at the WACA.

The WACA has endured a few false starts in its redevelopment plans over the past 12 years.

The most ambitious was the $250 million redevelopment plan that would have included two 17-storey apartment blocks and a shopping district.

WACA chief executive Christina Matthews feels the current plan will ensure the long-term future of the WACA.

"It's no secret that the WACA Ground has fallen behind the standard of other major cricket and sporting venues in Australia," Matthews said.

"We have an incredible opportunity to provide Perth with a modern boutique cricket venue, as well as a building a community destination where everyone can enjoy the benefits.

"Imagine watching a concert in the middle of the iconic WACA Ground, or going to the gym and seeing Meg Lanning or Mitch Marsh working out.

"There were a number of unknowns when we looked at improvements to the WACA Ground in previous years. We now have more certainty on the future, we know what cricket content will remain here and we know what community facilities we can offer."

WACA REDEVELOPMENT PLANS

*Convert ground into a 10,000 boutique venue, with scope to expand to 15,000 for some events.

*Build a piazza that will provide the community with a multi-purpose venue to host year-round events like carols by candlelight, food stalls, and fringe shows.

*Build a new High Performance centre that will include a public cafe and fitness facility situated alongside the WA elite team's gym so the public can work out while watching players train.

*Museum upgrade.

*Re-ovalisation to allow AFL, WAFL, and other sports to make use of the ground.

*Build a 10-lane indoor cricket facility to be used by all players from community to elite.

Australian Associated Press