From today’s Australian Financial Review
John Stensholt
A decision on the winning bid for the $1 billion Caulfield Racecourse redevelopment in Melbourne will be made by the end of July after the recent shortlisting of three developers vying for the project.
Lend Lease, Mirvac and a joint venture between the private developer Beck Property Group and construction company Probuild have lodged bids and made presentations last week to the Melbourne Racing Club committee.
A decision on the winning bid is expected to be made towards the end of July, with Melbourne Racing Club chief executive Alasdair Robertson telling The Australian Financial Review he hoped to give a recommendation to the committee by July 19 and make a public announcement of the winner shortly afterwards.
Mr Robertson described the quality of the binding proposals lodged by each of the three finalists as “excellent” and said that each will “integrate the racecourse with the surrounding community, which is very important to us”.
The Caulfield Village precinct, one of Melbourne’s largest inner-city residential projects, will be built on a five-hectare carpark adjacent to the historic racecourse.
The planning scheme amendment to allow for the project to go ahead was announced by Victorian Planning Minister Matthew Guy in June 2011. Mr Guy announced the development would include 1200 dwellings, 10,000 square metres of office space, 15,000 square metres of retail space including a supermarket and about 2000 carparking spaces.
Mr Robertson said the finalists for the project had mostly stuck to the mixed-used plans, though some had allowed for a higher amount of townhouses compared to apartments.
“It’s important that the project is incorporated with the nearby areas and they have done that. There are links to the Monash University campus and the nearby cafe and restaurant precincts and plans for a public art space as well. We’re partners remaining on the site throughout this so it has to be of high quality.”
Mr Robertson said the project will take about 10 years to complete, and construction is likely to begin next year. About 5000 jobs are expected to be created during the building period, which will be completed in three stages.
One precinct will probably contain a new entrance to the racetrack, office, apartments and serviced accommodation units, while a new boulevard with a supermarket, dining and specialty shops will provide a link between Station Street to the rail underpass to nearby Caulfield Station. A third sector will house medium-density dwellings.
The racecourse is already undertaking a $1.8 million revamp of its infield which includes barbecue facilities, a children’s playground, fitness area and running track, and a junior football field. Mr Robertson said the facilities would be open to the public on most race days.
Glen Eira Debates 
June 19, 2012 at 11:39 AM
i like this comment ‘The racecourse is already undertaking a $1.8 million revamp – ‘ MRC consider the land theirs.
June 19, 2012 at 11:48 AM
10 years of mayhem, chaos, pollution, traffic. Terrific job councillors. You will go down in history as traitors. I won’t forget.
June 19, 2012 at 12:52 PM
This from the latest news on the Caulfield Village website:
“With the Approval of the Caulfield Village Planning Scheme Amendment by the Hon Minister Matthew Guy on the 28th June 2011, and in keeping with the Club’s commitment to keep the Local Community informed. The Club will again be hosting a Community Information Session, the date for which will be announced shortly.”
Well 12 months on there has been no Community Information Session. The agreement that was to have certain works completed by April 2012 have not been completed, or for that matter started. Community anger brewing and not even a yelp from the Councillors who signed the agreement, Pilling, Hyams, Lipshutz and Esakoff. If they are hoping that the MRC do all the community consultation work for them, then NOTHING is going to happen on the centre. Time for them to make the MRC at least accountable to an agreement that is well past its use by date.
June 19, 2012 at 1:06 PM
Hopefully they can spend a part of the $1billion on fixing the fence on Queens Avenue. The whole thing has just about fallen over, with parts of the iron fence fallen off on the road. I am waiting for the moment when a sheet flies off and hits a jockey or rattles a horse. Should Worksafe be called? It really is unsafe.
June 19, 2012 at 1:33 PM
Worksafe are not interested until someone has been injured or killed. Sad but reality. The irony is that a few years ago the MRC commissioned Worley Parsons to perform a risk assessment on the Queens Avenue fence, the report titled “Fence a sure bet for safety” which is still on the website. Clearly they did not visit the fencing next to the carpark entrance on Queens Avenue. Otherwise the report would have been titled “Fence a sure bet death trap”.
June 19, 2012 at 1:50 PM
question why do you care if they fix the fence or not? havent you mentioned this before? Interesting though that the spikes on the top of the fence have been exposed be interesting if someone was impaled by this as this was the reason why they said it could not be replaced with the pallaside fencing. remember the indpendent consultants report?
June 19, 2012 at 4:28 PM
My understanding of the MRC/Council agreement was that not only were improvements to be made in the centre of the racecourse but parts of the tin fencing was to be replaced with pallisade to allow vistas to the racecourse and new park. Makes sense and this is one item Cr Pilling fought hard for…doesn’t mean that the MRC will do it because it will open the racecourse up to the public.
June 19, 2012 at 6:25 PM
Pilling is all talk and never follows through. Don’t expect much.
June 19, 2012 at 10:24 PM
I’m really getting tired of the centre of the racecourse being described as a new park – what bull sh*t. It’s always been a park – the VATC then MRC (with the full complicity of various state govts. and council) allowed it to degrade then proclaimed it new. $1.8m on doing what they should have been doing for the past 150 years does not even come close to the rent they should have paid over that time.
June 19, 2012 at 2:20 PM
I have very little faith that the final result will be as stated. Ten years will in all likelihood drag onto 12 and 20 storeys will reach even higher. 1200 units is only the opening gambit. If they are to build town houses you can be sure that they will make up the shortfall in other ways. I feel incredibly sorry for all those people who live anywhere in the vicinity and whose lives will be irrepairably damaged. The gang of four, plus Newton, Southwick and others will leave a legacy that can only be decried and despised.
June 19, 2012 at 2:34 PM
The much hyped improvement to the centre of the racecourse agreement signed by Council and the Melbourne Racing Club was supposed to be the sweetner in the deal. Looks like the agreement is no longer being followed through, with works not even commenced 12 months on. We need Councillors who can negotiate as well as follow through. Lets remember this come election time in October.
June 19, 2012 at 3:14 PM
John. C. I dont think this is true. Pictures have been published on this site of the started works. They will be aiming to get the car park ready for spring racing season. In there car park on Normandy Road they have a circus on at the moment if you are interested!
June 19, 2012 at 9:54 PM
Today’s Media Release –
Coalition Government acts to strengthen racing industry
Tuesday, 19 June 2012
From the Minister for Racing
The Victorian racing industry, a critical part of the state’s economy, will be strengthened with the Victorian Coalition Government introducing legislation to allow for further industry growth.
Minister for Racing Denis Napthine said the Racing Legislation Amendment Bill 2012 introduced into State Parliament this week would amend the Racing Act 1958 to:
enable Victorian registered bookmakers to accept phone and electronic bets at approved off-course premises;
remove the current cap of 1% of wagering turnover relating to the Bookmaker’s Licence Levy; and
specify additional bodies to which the Racing Integrity Commissioner may disclose integrity related information (including the Australian Crime Commission, the Australian Securities and Investment Commission, Centrelink and Ombudsman Victoria).
“The Coalition Government has today introduced legislation to ensure Victorian-registered bookmakers can compete more effectively with their interstate counterparts by allowing them to take phone and electronic bets at approved off-course locations,” Dr Napthine said.
“Currently, Victorian-registered bookmakers are required to have offices located on racecourses to accept these bets. The advent of new technology and growth in online bookmaking means these facilities are no longer up to standard.
“While bookmakers will still be required to accept all in-person bets on-course, they will now be able to open approved offices subject to monitoring and certain other conditions.
“In addition to the new premises arrangements for bookmakers, the legislation will provide the racing industry with the flexibility to set product fees at a level that provides it with a fair and reasonable return from wagering operators.
“Currently, there is a legislated cap of 1 per cent of wagering turnover for the Bookmaker’s Licence Levy. This amendment will remove that cap.
“Racing Victoria has already indicated it will introduce a new pricing model based on a rate of 1.5 per cent of wagering turnover increasing to 2 per cent during the Spring Racing Carnival months of October and November.
“In order to minimise the impact of its new pricing policy on smaller, on-course bookmakers, particularly those who only operate in regional areas, Racing Victoria will set a fee of 1 per cent for all turnover below $5 million.
“The Victorian racing industry is widely recognised as an international leader; contributing more than $2 billion to the state economy and supporting more than 70,000 jobs particularly in regional communities.
“The Coalition Government is committed to stimulating further growth across all three racing codes through these legislative initiatives alongside its $79.5 million Victorian Racing Industry Fund,” Dr Napthine said.