Moonee Valley Racecourse To Get A$2B Redevelopment
The home of the Cox Plate is about to undergo a six-year, A$2B ($1.4B) "transformation," according to Glenn McFarlane of the HERALD SUN. Work will begin on the first stage of a revamped Valley -- a residential section on the site of the members' car park -- "just days after Winx's record-breaking attempt at a fourth victory in the famous race." Moonee Valley Racing Club believes the new complex, which will include 2,000 apartments housing more than 4,000 residents, will make it "a world leader in terms of a racing, residential and community precinct." The construction of a new racetrack and grandstand will not start until after the 2022 Cox Plate. Moonee Valley Racing Club CEO Michael Browell said, "This is a once-in-a-lifetime opportunity and we will leave no stone unturned in making it happen." As part of the project, dubbed The Valley of Tomorrow, the MVRC has partnered with superannuation fund HOSTPLUS and developer Hamton to transform the site. Plans call for the new track to be moved in 60m along the northern boundary, with the new course widened from 24m to 30m and the circumference decreasing from 1,805m to 1,702m. The new home straight would be increased from 173m to 317m, with the track having an uphill run from the 800m mark, with a rise of 3m to the winning post, "making it a true test" (HERALD SUN, 10/24).