The Victorian government have approved the construction of 1092 new homes on the site of the soon-to-be-demolished and redeveloped Moonee Valley racecourse.
Minister for Planning Sonya Kilkenny has used the Development Facilitation Program to fast-track approval for the $709 million development on the inner north-western suburban racecourse.
Moonee Valley Racing Club will raze the existing stands after this month’s Cox Plate as part of a huge realignment of the course, which will see the grandstands and winning post moved to the northern side of the course.
The rebuild will see the track closed for at least 18 months, with Flemington to host the 2026 Cox Plate.
The redeveloped site will accommodate over 1000 new homes, ranging from studio to three bedrooms apartments, across four buildings. It will include more than 500 build-to-rent homes.
The development also includes a 184-room residential hotel as well as retail and office space.
“This is the biggest project we’ve fast-tracked so far – delivering more great homes for more Victorian families,” Kilkenny said.
“We’ve fast-tracked thousands of homes through this streamlined pathway – because we know the best way to make housing more affordable is to build more of them.”
The project will deliver new green spaces including an extension of Tote Park, a new pedestrian link known as Cox Place, and a pocket park at the corner of Dean Street and Feehan Avenue.
“Moonee Valley’s transformation is off and racing – this project will create more than one thousand new homes, new jobs, and new green spaces for our community,” Member for Essendon Danny Pearson said.
