Construction has begun on a 200,000sq ft (18,600sq m) entertainment complex devoted to Elvis Presley, located across the street from his famous Graceland Mansion in Memphis.

The project is the most significant expansion in the history of Graceland, which has been open to the public as a museum since 1982. Called Elvis: Past, Present & Future, the US$45m (€40m, £34.3m) complex will explore Elvis’ personal interests and activities throughout his life, including his passion for automobiles, aircraft and new technology.

The site, which will open in Q1 2017, will feature a 20,000sq ft (1,860sq m) museum called Elvis: The Entertainer. Dubbed by Graceland Holdings company as “the largest and most comprehensive Elvis museum in the world”, it will explore Presley's music, movie and live touring career through hundreds of artefacts.

Additional attractions include a new Elvis Presley Automobile Museum with his famous pink Cadillac, 19 other motorised vehicles and a 200-capacity theatre; a 20,000sq ft Graceland Soundstage for live music performances; two themed restaurants named after Elvis’ parents; retail stores offering the world’s biggest collection of Elvis merchandise; and a permanent exhibition about Sam Phillips – the founder of rock and roll label Sun Records and the man who discovered Elvis in Memphis.

“Elvis: Past Present & Future will enable our visitors to live a day in the life of Elvis Presley” said Joel Weinshanker, managing partner at Graceland Holdings. “Whether you’ve been to Graceland multiple times or have yet to make the trip, we know that you’ll be entertained, educated and inspired.

“We’re thrilled to bring Elvis fans the opportunity to explore the things that Elvis loved and what he would have loved today – the music, the technology, the experiences.

The complex is the second phase is a wider Elvis-themed development around Graceland. A 450-room resort hotel called The Guest House at Graceland will open on 27 October this year at a cost of US$92m (€81.3m, £72m). Every aspect of the hotel will reflect Elvis’ personal style and the character of his famous Memphis mansion, with 20 specialty suites designed in collaboration with his former wife Priscilla Presley.

In total US$137m (€121.1m, £104.5m) has been invested in the Whitehaven community of Memphis to create a landmark tourist destination for fans of the King.