The project, which is the biggest planned phase of the Masterplan for Lord's, includes a replacement for the Tavern and Allen Stands, a new Thomas Lord Building, a new Tavern pub, and internal reorganisation of the Pavilion to provide more room for cricket teams and staff.
It will also open up the area around the Grace Gates on St John's Wood Road to establish a more pedestrian-friendly entrance to the Ground, MCC said in a statement.
Additional aspects of the project include, a new Harris Garden Building with a bar opening out on to the Garden, and additional dressing rooms both for tennis and squash players.
The project is set to increase the capacity of Lord's to almost 30,000 and its current budget is approaching 80 million pounds.
MCC is aiming to complete construction of the new stand between the autumn of 2017 and spring of 2019 in time for the ICC World Cup and Ashes series in 2019. The rest of the development is scheduled for completion between the autumn of 2019 and spring of 2022.
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