The Victorian Government has announced a $5 million contribution to the major redevelopment of Moonee Valley racecourse, with its investment focused on the building of a new racetrack, the establishment of new lighting and construction of tie-up stalls.
The funding, delivered under the Victorian Racing Industry Fund, will be complemented by a $16 million investment from the club itself, as part of the $220 million project, which will see the inner suburban course transformed over the next two years.
"We're investing in the infrastructure that will cement the Valley's future and our reputation as the racing capital of Australia - supporting trainers, jockeys, owners and fans,” Racing Minister Anthony Carbines said.
"We will always back the racing industry which does so much for our state - generating $4.7 billion for the economy and supporting 35,000 full-time equivalent jobs."
Moonee Valley Racing Club Chair Adam Lennen said the state government contribution was an important step to realising the vision the club has for the racetrack.
"The Victorian Government's support is a vital contribution to our bold vision for the future of The Valley - this funding helps us realise our vision of transforming The Valley into the premier night racing destination in the world,” he said.
The redevelopment will see the track closed from after this year’s Cox Plate with ambitions to be ready to resume in time for the 2027 edition of the race.
As well as a new grandstand, there will be a new 27-metre-wide re-aligned track with improved drainage, irrigation and turf for better safety and performance. The home straight and grandstand will run from Feehan Avenue to Victoria Street, moving the track 90 degrees on its current position.
Horse stalls, a vet office, farrier room, wash bays, parade ring, swab and scope boxes as well as a new patron entry and viewing area will be built along with energy-efficient lighting.
The rebuild sits alongside the new Moonee Valley Park housing precinct development, which will deliver more than 2000 new homes.
