The Canberra Racing board "will consider a redevelopment to take advantage of the light rail corridor," which could also revamp the racetrack site and help ensure its long-term financial future, according to David Polkinghorne of the SYDNEY MORNING HERALD. Developer Lockbridge will present a master plan that has been "six months in the making" to the board on Tuesday. The master plan will "consider all commercial and residential possibilities," with a view to complementing developments planned for the surrounding area. It could lead to a "complete overhaul of the race club" -- the stables "could be relocated, the track potentially moved, with relocating the track to another site the only option not on the table." Canberra Racing CEO Peter Stubbs said, "For some time, the club has been looking at the potential for a development of the Thoroughbred Park site. ... We're open to everything, but more than likely the racetrack will stay in its present location on the site. There's no plans or discussions taking place at all in regards to relocation [of the track]." Currently, Racing Canberra's "main revenue streams" are ACT government funding and a percentage of betting turnover. A major redevelopment could not only boost its bank balance, "but also help revamp the aging facilities at the track" (SMH, 9/23).
