Plans advance for $750m Caulfield Village
Construction of a $750 million mixed-use village with offices, apartments and a shopping centre at Caulfield Racecourse could start within a year.
Melbourne Racing Club has submitted its final assessments and reports to the Department of Planning and Community Development, which is now reviewing a planning scheme amendment affecting five hectares at the north tip of the race course.
If approved, Caulfield Village, as it has been branded, would contain commercial buildings of 12 and 15 storeys with a total 20,000 square metres of lettable area.
Next to that would be a 10 floor residential building, 100-room serviced apartment complex and over-55s community, possibly with 250 suites.
A 15,000 sqm retail investment with a supermarket and restaurant precinct is also proposed.
The project would sit between Caulfield train station and Heywood Street, around Members Drive.
MRC development manager Brian Discombe told BusinessDay a comprehensive master-plan should be on display before the end of the year.
Building would then take place “west to east” – meaning the aged care, retail and residential components would take shape before the offices, which would front Normanby Rd.
The land owner intends to retain the commercial assets as investments.
The project is expected to take between five and seven years to complete.
