Rosehill should be sold for housing, but taxpayers need more information on the cost

Nearly 18 months after news broke of the ambitious plan to close Rosehill Racecourse and build 25,000 homes and a metro station on the site, a make-or-break moment is fast approaching.

To date, the chances of the proposal ever getting off the ground have looked shaky. The Australian Turf Club’s initial consultation with its 11,000-strong membership was woeful, leaving proponents of the grand scheme playing catch-up since.

A rendering of the revamped Royal Randwick course.

The Herald still agrees with the concept of transforming the tired, under-utilised 60-hectare site into a new suburb amid skyrocketing concern about housing supply and an affordability crisis strangling Sydney. As we have said before, it is a no-brainer.

ATC members have appeared less convinced, and most in industry and government have been expecting the plan to go down in flames when it is put to a vote early next month. The scheme has some powerful opponents in the horse training industry who don’t care for the idea of moving to revamped facilities in Warwick Farm, Canterbury Park and Randwick.

Opponents may have legitimate beef with the sale process, but self-interest is also a major factor. As the Herald has previously argued, this selfishness puts private interests above the public good and risks blocking what is a needed and good development project that will have a real impact on Sydney’s housing shortage.

Aware Plan A was headed for ruin, the ATC has now put a new proposal to members ahead of the April 3 vote. The key difference is that instead of the ATC managing the site’s sale to developers, the NSW government would buy the land for no less than $5 billion and push through the redevelopment itself.

A worker walks through one of the twin tunnels being constructed under Rosehill Racecourse near Parramatta.Credit: Nick Moir

In a sweetener to members, the ATC has revealed it would spend some of the proceeds on a massive hotel overlooking the Royal Randwick straight. There would be “enhanced dining and entertainment options with stunning track views” and weatherproof entrances for punters.

There would also be a redesigned racecourse at Warwick Farm. Canterbury Park would be improved and the ATC would replace Rosehill with a new Group 1-quality racecourse, although a site has not been confirmed and may prove hard to find.

The decision now rests with ATC members. However, the new approach also raises a series of fresh questions for Premier Chris Minns.

Does the government believe the site is worth $5 billion? How did the ATC arrive at that figure? Does the ATC’s preference of being paid upfront, or in instalments over 15 years, represent the best arrangement for taxpayers? How will the state manage the financial and environmental risks of such a huge project? And how much longer can Metro West builders wait before there is a decision on whether a station will be added to the line underneath Rosehill?

The Herald remains a firm supporter of using Rosehill for housing, but Sydney deserves answers to these questions before ATC members vote in just three weeks.

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