ATC will outlay up to $5 billion to transform the site into thousands of houses, with the revenue from this to be invested into racing infrastructure across Sydney. The facilities and racecourse currently at Rosehill Gardens will be progressively relocated throughout the rest of this decade.
Rosehill Gardens offers considerable event space for conferences, exhibitions and gala dinner events.
ATC approached the NSW Government with the proposal to relocate racecourse and turn the current site into housing. The state government will also look at adding a Metro West station at Rosehill Gardens, after recommitting to the Metro West project today. Metro West will run an underground train from Westmead into the city.
ATC and the NSW Government have signed a Memorandum of Understanding on the project, however it will still be subject to the government’s unsolicited proposals process, which includes probity, conflict of interest and confidentiality arrangements and a lobbying ban as the proposal is evaluated.
The turf club will investigate several sites across Sydney to build a new racecourse.
“This is a once in a lifetime opportunity to secure racing, along with the ATC contributing to the community and economy in helping to ease the housing shortage in Sydney,’’ said ATC chairman Peter McGauran.
“This future-proofs Sydney racing for a century to come.
“It will cement Sydney racing as the best, most modern and financially secure jurisdiction anywhere in the world.’’
NSW Premier Chris Minns also called the ATC’s proposal a “once-in-a-generation” opportunity.
“This is exactly the type of proposal my government has been talking about over the last 6 months.
“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.”