Liverpool will start work on the £100m redevelopment of Anfield on Monday, the club has announced, with the ground's capacity set to increase to 59,000 by the start of the 2016/17 season.
The first phase of the work will see the main stand redeveloped with the addition of 8,500 seats. A further 4,800 seats will also be added to the Anfield Road Stand.
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The work can begin now that the club has completed the purchase of the final house that needs to be demolished to make way for the expansion, explains the BBC.
The stadium redevelopment is part of a wider plan to improve the Anfield area, reports the Liverpool Echo. New parks and green spaces will also be created as part of a Liverpool City Council approved scheme.
The news can be seen as something of a triumph for Reds owner John W Henry and the Fenway Sports Group four years after they brought the club, as the stadium question had become a toxic issue by the time they took over.
The saga dates back to the turn of the century when the club announced its intention to move to a new larger stadium in Stanley Park, which would allow the club to keep pace with its rivals. But progress towards a new ground was slow and became mired in controversy.
When Americans Tom Hicks and George Gillett took over in February 2007 they promised "spades in the ground" within 60 days. But their optimism soon died and as months turned to years without progress, a damaging split between the fans and owners emerged.
Professor Tom Cannon of the University of Liverpool told the BBC: "The lack of a ground comparable with [Arsenal's] Emirates, comparable with [Manchester City's] Etihad, comparable with [Manchester United's] Old Trafford, has hurt the club deeply."
But even though work is now finally beginning, the project is not without critics. Some local residents oppose the redevelopment of Anfield, and of the seats in the main stand more than half will be for corporate use only.
However, the club believes that when the stadium is complete it will swell matchday revenues to around £90m a season.