Sydney’s Rosehill Racecourse is set to be converted into a housing estate, entertainment precinct and the site of a new metro train station under a $5 billion NSW government proposal.
Under the provisional plans, Rosehill would be relocated from the city’s west and housed in other properties owned by the Australian Turf Club (ATC), which, it is understood, approached the government with the initiative, not the other way around.
It could present a win-win for the racing industry, which will welcome an injection of up to $5 billion as a result of funds from the major development, while the ATC will still retain the site.
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The plans still have government hoops to jump through to be officially ticked off, but the ATC has reportedly already signed a memorandum of understanding.
Revenue from the development could be invested back into redeveloping the stables and training facilities at Royal Randwick, the entire racecourse at Canterbury Park, and a new training centre of excellence at Horsley Park.
Rosehill Gardens is set to be replaced by housing in an Australian Turf Club plan. Credit: Jeremy Ng/Getty Images
New South Wales Premier Chris Minns said the “once-in-a-generation” chance was a no-brainer.
“The government sees this as an opportunity to put its money where its mouth is and build more housing, close to transport links, with plenty of green space for new families,” he said.
“This is exactly the type of proposal my government has been talking about over the last six months.
“The fact is we have a housing crisis — we aren’t building enough homes. The more supply we have, the more we can drive down cost of living pressures, whether it’s for renters or those wanting to buy their own home.”
Chair of the ATC Peter McGauran said the deal will secure the future of racing in Sydney long-term.
“This future-proofs Sydney racing for a century to come,’’ he said.
“It will cement Sydney racing as the best, most modern and financially secure jurisdiction anywhere in the world.’’