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The Victorian Government has fast-tracked approvals for the $709 million development of more than 1,000 apartments at Moonee Valley Racecourse in Melbourne’s inner north-west as part of a major transformation of the facility that will include a new grandstand and track upgrade.
Victorian Minister for Planning Sonya Kilkenny has given the greenlight for the state’s biggest project approved through the Development Facilitation Program, an initiative to accelerate the state’s planning pathway to build more homes.
The major housing project is part of a broader redevelopment plan for Moonee Valley Racing Club at Moonee Ponds that will ultimately include a new grandstand on Wilson Street and an upgraded racetrack, work on which will begin following the running of this year’s Cox Plate.
The development is the latest stage of the project being undertaken by Hamton Property Group, in partnership with the Hostplus superannuation fund and the Moonee Valley Racing Club.
Under the proposal, the site of the existing Moonee Valley grandstands will make way for 1,092 new homes, ranging from studio to three bedrooms, across four apartment buildings – including more than 500 build-to-rent homes.
The $709 million development also includes a 184-room residential hotel, more than 3,000 square metres of retail and office space creating local jobs and business opportunities.
The transformation 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.
“This is the biggest project we’ve fast-tracked so far, delivering more great homes for more Victorian families,” says Victoria’s Minister for Planning Sonya Kilkenny.
“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.”
Member for Essendon Danny Pearson says following the fast-track approval by the government, 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,” he says.
Moonee Valley Racing Club CEO Michael Browell earlier this year said that the redevelopment plans for the grandstands and the track were set to start on 1 November.
The club revealed in May that the total budget for the racecourse works, including the grandstand, had risen to $220 million – or $20 million more than previous estimates.
The redevelopment plans will lead to a 21-month shutdown for Moonee Valley after the running of the Cox Plate meeting with racing scheduled to resume at the track in August 2027.
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