A $1 billion project has been approved to be built just north of Caulfield Racecourse.
The project, dubbed “Caulfield Village” will include 1,200 apartments, 10,000m2 of office space and 15,000m2 of retail and supermarket space.
The new Caulfield Village will be located near the train station and will offer parking for up to 2,000 car spaces.
The project has been agreed to by all parties, including the Melbourne Racing Club.
Victoria’s Planning Minister Matthew Guy announced the new project alongside Racing Minister Denis Napthine and Melbourne Racing Club Chairman Mike Symons yesterday.
“This $1 billion development at Caulfield is an excellent example of the positive outcomes that can be achieved when state and local government work together,” Mr Guy said.
“The City of Glen Eira is to be commended for working constructively with my office, the Department, the local member David Southwick and the Melbourne Racing Club, to reach a proposal all parties agree on.
“The development will provide homes close to transport, education, employment and retail areas for thousands of Melburnians.
“This is a prime example of the urban renewal in key inner-city areas that the Victorian Coalition Government has been promoting.
“Caulfield residents will also have improved access to open space and park facilities as a result of this development, and a lack of those spaces has been a real community concern that I have been campaigning on since taking office.”
The development will also lead to recreational use of the centre of Caulfield Racecourse, which will be made into a junior soccer pitch.
Member for Caulfield, David Southwick, told of the new alterations to the racecourse.
“This development will be an excellent destination for a variety of recreational activities, and Caulfield families and communities will enjoy facilities including a picnic area by the lake, a large off-leash dog area, walking and jogging paths and a junior soccer pitch making better use of unused land in the centre of the racecourse,” Mr Southwick said.
The majority of the development will be built on a five hectares area that is currently being used as a car park.