Private investment is likely to underwrite the first stages of a partial redevelopment of Canberra Racing Club’s (CRC) Thoroughbred Park as the newly returned ACT government deals with a budget deficit.
ACT Chief Minister Andrew Barr has all but ruled out a joint venture with the CRC on a proposal to turn a parcel of racetrack land into a housing and commercial precinct.
The CRC had hoped to partner with the government to kick-start the project that promises to help secure racing’s future in Australia’s capital city.
But Barr told an Annual Reports hearing in February that joining forces with the CRC isn’t a government priority during the current parliamentary term.
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