Global Creatures and Bazmark produce the stage production that reunites members of the film's original creative team, including Lurmann, who co-writes with Craig Pearce, as well as set and costume designer Catherine Martin and choreographer John "Cha Cha" O'Connell.
The project had initially announced a 2013 premiere in Sydney; however, the Lyric Theatre now states that an early 2014 premiere is anticipated.
The stage production promises "the beloved songs of the original film weaved into a score also featuring new songs from world class composers." It has not been announced which songwriters are contributing material to the live production.
The New York Times reports that Global Creatures producer Carmen Pavlovic is hopeful that Strictly Ballroom The Musical will have a future Broadway life.
Lurhmann co-wrote and directed the film about the world of competitive ballroom dancing, which was originally conceived and presented as a stage play.
"Of all of my shows, 'Strictly Ballroom' is the most personal," Luhrmann said in an earlier statement. "From escaping into the world of competitive ballroom dancing as a child, and my mother going on to be a dance teacher, through to the formative moment at the National Institute of Dramatic Art when a group of talented students and I brought together the classical myth of triumph over oppression and placed it in this world of suburban theatre, the first production of Strictly Ballroom was born."
Lurhmann is well known for his films "Moulin Rouge," "Romeo + Juliet," "Australia," "The Great Gatsby" and the Broadway production of the Puccini opera La Boheme.