Racing at Rosehill will be phased out over the next five years, with the land to be sold off to build 25,000 homes and a new metro station. The government says it's a major breakthrough for housing supply in the city, but it's also a big windfall for the racing industry.
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00:00 In a housing supply crisis, this much land is a developer's dream.
00:07 The description 'historic occasion' is overused, but it almost doesn't do justice.
00:13 This is one of the last parcels in metropolitan Sydney of uncontaminated land to do dwellings at scale.
00:20 Rose Hill has been Sydney's second racetrack since 1885.
00:25 Now there are plans to build 25,000 homes there.
00:29 It's always empty, so I think housing's much better.
00:32 It's a great idea. Doesn't get used very much.
00:35 The idea hinges on the creation of a new metro stop.
00:39 After months of speculation, the government says it will keep building the Metro West between the CBD and Westmead.
00:46 It's planning at least one extra stop at Rose Hill, coming at an extra cost to the taxpayer.
00:53 We've said it'll be more than half a billion dollars.
00:56 The racing industry says it's on to a winner.
00:58 The revenue from the development of Rose Hill Gardens will leapfrog racing in Sydney and in New South Wales forward by 50 years.
01:08 Trainers will be relocated to Horsley Park on Sydney's outskirts, while the industry searches for another, smaller venue.
01:16 One legendary trainer is furious.
01:19 I think it's the saddest decision they've ever made. I think the government are completely wrong. I don't think they've thought it through.
01:25 The transformation of this racetrack is not a done deal.
01:29 The turf club only came to the government with this proposal last month.
01:33 If the economics stack up, it will be years until the first houses are built here.
01:38 A seven-page summary of the Metro West review has seven of the 14 recommendations redacted.
01:45 The metro will be delayed by two years to 2032.
01:49 [BLANK_AUDIO]