A 140-year-old racecourse and quiet suburban train stations will become vibrant town centres under proposals pitched at delivering more than 200,000 new homes across Sydney, Newcastle and Wollongong.
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Almost 40 station precincts including many in heritage areas will be subject to increased density, while Rosehill Gardens in western Sydney will be transformed into a housing precinct.
The racecourse is due to be developed into 25,000 new homes, a metro station and a new school.
The major announcements came on the back of the opening date of the $25 billion Sydney Metro West line being pushed out to 2032.
Those extra two years would allow for the development of two more stations, including the potential Rosehill site.
Racecourse owner Australian Turf Club made an unsolicited proposal to build on the home of the Golden Slipper and George Ryder Stakes.
The proposal would relocate 300 to 400 stables west to a training facility at Horsley Park by 2030, redevelop Warwick Farm and Canterbury and earmark sites for a new, world-class racecourse.
The proposal also involves the redevelopment of Warwick Farm Racecourse. (Paul Miller/AAP PHOTOS)
Funds from the Rosehill redevelopment, which will include new school and green space, would be invested in racing, training and spectator facilities at all racing, training and stabling venues.
With the 24km Metro West line already due to be tunnelled under the racecourse, the government will now consider the feasibility of a station at Rosehill.
The $5 billion proposal was the most significant opportunity in the history of Sydney racing, turf club chairman Peter McGauran said.
"This future-proofs Sydney racing for a century to come," Mr McGauran said.
"It will cement Sydney racing as the best, most modern and financially secure jurisdiction anywhere in the world.'"
Premier Chris Minns described the plan as a "once-in-a-generation opportunity", both for the turf club to secure the future of racing and his government to put "its money where its mouth is" on housing.
"There'd be no racing association in the entire world with that amount of capital to reinvest in the sport," he told Sydney radio 2GB on Thursday.Â
Mr Minns said the Rosehill site would allow the government to "start from scratch" and build a community with public transport links and growing infrastructure.
Silverwater, saddled between Rosehill and Sydney Olympic Park, has been rumoured as a second Metro West stop.
Chris Minns says the proposal is a "once-in-a-generation opportunity". (Bianca De Marchi/AAP PHOTOS)
The two stations would interrupt a 7km run between Parramatta and Olympic Park that had baffled pro-housing groups.
Sydney Metro will be also tasked with broadening the catchment of all Metro West stations.
The increased density plans around 39 train stations confirm the Minns government's transport-orientated development program, parts of which were accidentally leaked on Tuesday.
The drafts were criticised by the Property Council as "half-cooked" and marred by political, not policy, decisions.
Up to 47,800 well-located, high and mid-rise homes could be built within a 1200m radius of eight tier-one station precincts over the next 15 years.
Developments worth more than $60 million will receive accelerated approval pathways while "up to 15 per cent" of the homes will be reserved in perpetuity as affordable housing, helping essential workers.
About $520 million will be reserved by the government for community infrastructure such as roads and open spaces.
Another 138,000 new homes could be built through snap rezoning in 31 tier-two precincts, opening the door to residential flat buildings within 400m of metro or suburban rail stations.
"Housing choice means not everything is high-rise," Planning Minister Paul Scully.
"We're focused on building well-designed communities, rich with diverse housing types."
Bankstown, Bays West, Bella Vista, Crows Nest, Homebush, Hornsby, Kellyville and Macquarie Park
Newcastle: Adamstown, Booragul, Hamilton, Kotara, Newcastle Interchange, Teralba
Central Coast: Gosford, Morisset, Wyong, Tuggerah
Sydney: Ashfield, Berala, Canterbury, Croydon, Dulwich Hill, Gordon, Killara, Kogarah, Lidcombe, Lindfield, Marrickville, North Strathfield Metro, Rockdale, Roseville, St Marys Metro, Turrella, Wiley Park
Wollongong: Banksia, Corrimal, Dapto, North Wollongong