$2 billion Moonee Valley development plans unveiled
AMBITIOUS plans to transform Moonee Valley into a world-leading racing facility flanked by residential and business precincts have been revealed.
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AMBITIOUS plans to transform Moonee Valley into a world-leading racing facility flanked by residential and business precincts have been revealed.
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Dubbed “The Vision for the Valley”, the $2 billion redevelopment project could start as early as next year, and it could take 15 years to complete.
Racing at the venue would be suspended during construction but Moonee Valley Racing Club hopes the iconic Cox Plate meeting, recently won by wonder mare Winx for a third successive time, would be unaffected.
“There are two options we are currently exploring,” MVRC chief executive Michael Browell said.
“Ideally, we don’t lose a Cox Plate meeting at Moonee Valley and that will be dependent on the construction of the new grandstand and new track.
“Alternatively, if Moonee Valley is unavailable for the Cox Plate meeting, we would look to work with Racing Victoria and the other clubs to transfer it to either Flemington or Caulfield.”
Current plans are for the bold grandstand redevelopment to start after the 2020 Cox Plate, the centenary of the world’s equal-highest rated turf race.
The key points of the master plan are:
CONSTRUCTION of a futuristic grandstand along the site’s northern boundary, with views to city skyline.
THE release of 9ha on the site of the present grandstand to joint venture partners Hostplus and Hamton for residential development.
FUNDS generated from the land sale would fund track reconfiguration and grandstand construction.
BUILDING OF a new track surface, grandstand and infield likely to start after the 2020 Cox Plate.
NEW track to be 1702m in circumference, with the home straight extended from 173m to 317m.
RELOCATION of the stabling area to the infield, part of which would be transformed into sporting and entertainment areas.
MARKETING for the first residential precinct to start next year.
The plan has the support of Victorian Minister for Racing Martin Pakula.
“I congratulate the MVRC on its vision and I’m confident that it will ensure an exciting future for racing at the Valley,” he said.
Racing Victoria chief executive Giles Thompson said: “This is an exciting development for the Moonee Valley Racing Club and the wider Victorian racing industry and the Racing Victoria board is very supportive of the club’s plans.
“We look forward to working with the club to help ensure their vision for the project is realised.”
MVRC chairman Don Casboult said The Valley’s redevelopment was a “history-making moment.”
“It will deliver a huge range of benefits for the entire community over the next century,” he said.
“The scale and ambition of this project is unparalleled. `The Valley of Tomorrow’ will respect our great heritage while creating a wonderful new environment for all to enjoy.”
Under the plans, construction of the first townhouse would start in 2018-19.
About 2000 residential dwellings will be built, comprising townhouses and apartment buildings.
The balance of the mixed-use project will consist of retail and entertainment facilities, commercial office space and community and wellbeing spaces.
The racetrack infield will be used for outdoor events run by the club and also sport and recreation.
Discussions will continue with local council and the state government to determine the final mix of uses.
leo.schlink@news.com.au
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