$3.8bn facelift for Perth’s Belmont Park Racecourse

The high density waterfront development at the historic race track will see 4,500 homes constructed and is set to be one of the biggest developments in Perth. Picture: Supplied.

Belmont Park Racecourse will be transformed into a landmark $3.8 billion development with 4500 new homes, in one of the biggest high-density communities ever constructed in Perth.

Property developer, Golden Group is behind the ambitious venture, which will see a high-rise residential, commercial and retail development surround the existing racetrack, directly opposite the new Optus Stadium in Burswood.

Belmont Park, Perth’s winter racecourse, has been operational for more than 100 years, holding its first harness race meet in 1910.

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The first stage of the project, which is currently out to tender, will include 1500 new apartments, 6000sqm of retail and 20000sqm of commercial space.

Once complete, the entire development will see the peninsula transformed into 4500 residential dwellings, with office space and retail offerings.

Golden Group managing director Andrew Sugiaputra says the “once-in-a-lifetime” development mimics inner-city waterfront developments from across the globe.

“This development will be unlike anywhere else in Western Australia,” Sugiaputra says.

Belmont Park Racecourse development

The 4500 new homes will target downsizers, first home-buyers and families who want an inner city lifestyle. Picture: Supplied.

“This curated and obtainable community is dedicated to families, downsizers and young couples interested in inner-city lifestyle – a response to Perth’s urban sprawl bringing us in line with Melbourne and Sydney.”

Sugiaputra says the development will add to the Burswood peninsula’s emerging reputation as Perth’s premium event destination.

“As well as all the advantages that come with being connected to the city, river and events precinct, Belmont Park residents have access to outdoor play spaces, a high-quality parkland setting, and easy access to great recreation, cafes, a grocery store and childcare facilities,” he says.

“This is the next level for Perth urban living.”

WA Premier Mark McGowan says the Belmont Park development is a bold initiative that is expected to create thousands of local jobs and continue the revitalisation of Burswood.

“This development represents great news for the WA economy, businesses and local jobs, and demonstrates the economic optimism that is returning to Western Australia,” McGowan says.

“My government is committed to working with both the public and private sectors to create a strong and diverse economy, and secure long-term jobs for Western Australians.”

This article first appeared as “Historic Perth racecourse to get $3.8b facelift”.