Work on the park, which is next to the Victoria University Faculty of Architecture and Design, began on 30 November 2009 and is expected to be completed by the end of April 2010.
The Council's Project Manager, Pete McEvoy, says the area around the park has seen an increase in the number of residents in the past 10 years, increasing pressure on the existing public spaces.
"The current design layout does not meet the needs of visitors to the park. It was appropriate when it was built in the 1970s, but the increase in population and need for more open space in the city means the park needs to be redeveloped."
The cost of improvements is likely to be about $800,000 and will include planted and lawn terraces, a new playground plus a hard-court area, new seating, lighting and a footpath down the middle.
Pete says the improvements will transform the park into a practical and attractive place.