Flemington's famous roses have inspired the design of the racecourse's new, $128 million grandstand.

The Victoria Racing Club on Friday revealed new architectural plans that include a garden on the roof of the five-storey Club Stand.

The centre of the top floor will house bars, betting facilities and a DJ booth, capped by a sculptural petal-designed roof canopy.

"It draws inspiration from Flemington's famous garden setting and the shapes and forms of the world-renowned roses echo throughout the Club Stand," VRC chair Amanda Elliott said in a statement.

"The innovative and exciting plans unveiled today support our vision and ongoing ambition for the Club Stand to provide an unrivalled raceday experience, as well as ensuring Flemington and Melbourne remain the global home of racing, events and entertainment."

The stand offers views of the finishing post, mounting yard and city skyline and will be available for private functions.

Owners and trainers will be catered for in their own section set between the Club Stand and the Grandstand.

The Club Stand, the 10th stand built at Flemington in the racecourse's 152-year history, is scheduled for completion before November 2018.