Latest news with #RosehillRacecourse
News.com.au
11 hours ago
- Business
- News.com.au
NSW Premier Chris Minns tells business leaders Sydney ‘without a future' if new housing isn't delivered
NSW Premier Chris Minns has told business leaders Sydney will be left 'without a future' if the state government cannot deliver more housing, after a first-of-its-kind mini-city was voted down last month. The Australian Turf Club voted to reject a $5bn plan to redevelop the historic Rosehill racecourse, replete with 25,000 new homes and a metro station, which would have secured the racing club for '100 years'. Addressing more than 100 business leaders at the Shangri-La hotel on Tuesday, Mr Minns said despite the advancements made to the liveability of Sydney, 'we still lose twice as many people as we get'. 'Housing persistently is our biggest challenge, not just in the economy but in terms of intergenerational fairness and equity and giving young people an opportunity,' Mr Minns said. 'We are losing twice as many young people as we gain every single year, and that's even taking into consideration the fact that we are the largest city for inbound migration from any jurisdiction in the country. 'A city without young people is a city without a future, and the leading reason for that is we're not building enough houses.' On any 'Plan B' following the failed Rosehill vote, Mr Minns remained mum. 'But we we've got specific plans ahead,' he said. 'We're looking forward to talking them through when we're ready to talk about them.' He noted the need for more in-fill development, and housing along train lines. Mr Minns said NSW was 'not even building enough houses in comparison to other states on the eastern seaboard', and said the government was poised to address planning laws – but, with one key hitch. He said planning was 'next cab off the rank' after workers comp reforms are passed. The state government's workers compensation reforms faced a major hurdle last week when, despite pleas to have the legislation passed before June 30, the Opposition and the Greens teamed up to send it back for an inquiry. The Opposition, along with the unions and some industry leaders, claim the reforms, while badly needed, would leave many of the most vulnerable workers without help due to changes to the WPI threshold. The WPI, or whole person impairment, would be raised to 31 per cent for a psychological injury under the planned workers compensation bill, which detractors say will leave the most injured workers at risk. Mr Minns noted in his address the 'weird coalition between the Greens, the Liberal Party and the National Party' who had opposed the proposed reforms, and called for urgent action ahead of the state budget. 'It's not my style to make these speeches or events like this political … but, the decision of the Liberals and Nationals is not the right one. It was the wrong one,' Mr Minns said. 'We're not trying to smash the system into pieces. We believe we're trying to save the system. It's crucial for business in NSW and absolutely crucial for all of us. Business NSW president Joseph Carrozzi AM mirrored some of those sentiments. 'In recent times, we've seen reforms proposed by the government that business is badly needing. 'We need that categorically and it's a real shame that the Bill seems to, at the moment, be resisted by the Greens and by the Coalition … We hope that the Coalition will support and not frustrate this reform. 'The reform, which we believe is a bold but necessary reform ... must be supported.' Mr Carrozi urged for 'practical reform' that happens when 'officials meet in the middle and chart the way forward', and noted the continued impact business and the NSW community faced from natural disasters. Treasurer Daniel Moohkey said businesses were dealing with more disasters, and highlighted the need to address the Emergency Services levy and insurance premiums businesses were facing from disasters. With the budget on the horizon, Mr Moohkey on Tuesday made his pitch to the business community. 'This budget will be about growth,' he said. 'It will be about making sure we rebuild our essential services. It will be making sure that this government has the right settings in place for you to make decisions in your own businesses.' During his address, Mr Minns acknowledged the work of the previous Berejiklian government, specifically the 15 new Metro stations approved under the then-Coalition government, and said more were on the way.
ABC News
27-05-2025
- Business
- ABC News
Plan to build new homes on Sydney racecourse land fails after no vote
Australian Turf Club members have voted not to sell Rosehill Racecourse to the NSW government. NSW Premier Chris Minns hoped to build new homes on the land.
News.com.au
27-05-2025
- Business
- News.com.au
Australian Turf Club members reject historic $5bn redevelopment plan for Rosehill Racecourse
Australian Turf Club members have resoundingly rejected a $5 billion proposal to sell Sydney's Rosehill Racecourse, with the state government hoping to use the site for a new 'mini city'. ATC club chairman Peter McGauran made the announcement on Thursday afternoon, noting he had supported the sale and was personally 'disappointed by the result'. Debate ahead of the vote lasted more than an hour, with 56 per cent ultimately voting against the sale and 44 per cent in favour. The vote marks the end of a 17-month saga for the club and the state government, who have proposed redeveloping the land for a 'once in a generation' housing project. The government had planned on erecting 25,000 new homes, as well as a Metro West station, on the western Sydney site, if the sale is approved and then on-sold. The ATC has vowed to use the sale money on $1.9bn in upgrades to other Sydney race tracks, including upgrades to entertainment and other amenities. Mr McGauran said the ATC would now face an uphill battle, with the lack of funding doing nothing to help address a decline in attendance and run down venues. 'It's more of a challenge because we don't have the funding that could have been available to us through the sale,' he said. 'Nonetheless, we are a viable and strong club and the future is in our hands and we're united behind shared and common goals.' Mr McGauran admitted he was 'disappointed' by the vote, but said he understood why people had opposed it. He said much of the vote was influenced by the well-intended 'racing establishment' who had 'made their fortunes from racing'. Taking a sombre but matter-of-fact tone, Mr McGauran warned of an uncertain future, with declining interest in the sport. 'What what we have to do is go back to core business and seek to reduce our operating costs,' he said. 'Where we can discuss with Racing NSW and the state government, how we can better align with their objectives and strategies. 'The funding would have transformed the entire Sydney racing scene for the next hundred years.' He went on to add: 'I believe that racing (in Australia) is quickly becoming a niche sport, and this lost opportunity will further accelerate that decline.' Noting the land value of the racecourse as $27.5m, Mr McGauran lamented the missed opportunity to sell it at '128 times' the value. Mr McGauran was, though, unreserved in his criticism of independent MP Mark Latham, an outspoken critic of the proposal. 'Mark Latham is a blight on the political landscape, let alone on the racing landscape,' he said. Some 11,000 members voted on the proposal on Tuesday afternoon. Mr McGauran, in a letter to members earlier this year, described the vote as 'without any doubt the most important and consequential in the history of our club'. 'This proposal offers a one-off opportunity to make the ATC the most financially secure racing club in the world,' he said in March. 'Many members love Rosehill Gardens and are reluctant to see it go, but the truth is it's an outdated venue with declining crowds. 'This proposal can rejuvenate and secure the racing industry for many generations to come.'' The vote was initially due to be held on April 3, but was postponed following concerns about 'fairness and transparency'. Information has since been provided to members detailing the perspectives of both the 'Yes' and 'No' camps. Under the proposal, state government payments to the ATC are timed to fund 'several major investments' over 15 years. The funds will, among other measures, be used to redevelop Warwick Farm into a replacement Group 1 track. Premier Chris Minns told ABC Sydney radio on Tuesday he would be 'disappointed' if the ATC shot down the deal. 'I thought this would be a good step forward for Sydney,' Mr Minns told Craig Reucassel. 'This would be infill development, but effectively untouched land for over 100 years so didn't have the contamination risks in a lot of other parts around the Parramatta River.' Mr Minns ruled out compulsorily acquiring the site if the club voted against the sale. 'I think that it would be disingenuous of me,' Mr Minns said. 'We're leaving it up to the members of the ATC.' 'The question we're asking ATC members is: as we're driving a tunneler underneath the racecourse, do you want us to put a Metro station in as well? Once we're through, that's it.'
ABC News
27-05-2025
- Business
- ABC News
ATC members vote no to sale of Rosehill Gardens Racecourse
Members of the Australian Turf Club (ATC) have voted not to sell Rosehill Racecourse to the NSW government. On Tuesday, about 11,000 members voted on the fate of the racecourse, bringing a 17-month-long saga to end. The no vote was carried by 56.1 per cent of the ballots. The ATC had proposed to sell Rosehill Gardens Racecourse to the state government for an asking price of $5 billion, which the Minns government planned to then on-sell to housing developers to build 25,000 homes and install a stop on the new Metro West line. If the members gave up their racetrack, the ATC had promised $1.9 million in upgrades for neighbouring Sydney tracks, including turning Warwick Farm into a replacement Group 1 track. Existing members would have also been gifted complementary membership for five years, and an annual $1,000 food and beverage tab for the same time. In April, Racing NSW used legal powers to postpone the initial vote of the racecourse's future, saying it was provided "insufficient" information — a move which was criticised by "vote no" campaigners who believed they could have turned down the proposition. In the lead up to the vote, the club's chairman Peter McGauran, said the sale was vital in safeguarding the future of racing, citing declining event attendance. Mr McGauran on Tuesday called the result "the most significant decision in the Club's history". "The Board brought forward this proposal in accordance with its fiduciary obligations, with the future of Sydney racing, our venues and Members at the centre of the plan," he said in a statement. "While the resolution will not proceed, the robust debate and considered views expressed throughout the process has put us in good stead for our next phase of strategic planning and development." Prominent racing names including Gai Waterhouse, Julia Ritchie, Jason Abrahams and John O'Shea had widely opposed the sell-off of Rosehill Gardens Racecourse, with many complaining the state government had not committed to paying the club's $5 billion demand. Almost 18 months ago, NSW Premier Chris Minns backed the deal, labelling it a "game changer" to meet the growing city's housing needs. Mr Minns previously told 702 ABC Radio Sydney he would be "disappointed" if the vote was unsuccessful but ruled out the compulsory acquisition of the club.
