An ambitious plan to turn a Western Sydney racecourse into 25,000 new homes has failed to make it out of the stalls. Today Australian Turf Club members voted not to sell Rosehill Racecourse to the state government. The decision will have knock on effects on the state government's housing targets and the future of racing in NSW
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00:00It was meant to be the golden slipper in Chris Min's housing aspirations.
00:07A pitch to turn Rose Hill Racecourse into its own mini city with 25,000 new homes.
00:13A historic opportunity to change Sydney for the better.
00:17Today that dream was scratched.
00:20It feels like a golden opportunity that slipped through our fingers.
00:2356% of Australian Turf Club members who voted said no to selling the racecourse to the state government.
00:29At an asking price of $5 billion.
00:32Greatly relieved that I think it's now the opportunity for us now to go back and start working with this board.
00:39The Premier was one of the plan's biggest backers promising Rose Hill its very own metro station.
00:45As he looked to make a dent in the race to build 377,000 homes.
00:50The fact that it was reasonably close is bittersweet to be honest.
00:55ATC Chairman Peter McGoran went all in to get the sale over the line.
01:00Planning to upgrade other tracks, offering members $5,000 bar tabs and free memberships.
01:06We'll never have the funding to better cement ourselves in the mind of the wider community who have a declining, rapidly so, interest in racing.
01:17It marks the end of a 17 month long saga involving parliamentary inquiries, racing identities and even briefly the corruption watchdog, but they declined to pursue.
01:28Premier Chris Minns has ruled out any compulsory acquisition of the site, but is still on the lookout for Sydney's next ambitious housing project.
01:36Prominent racing identity Gay Waterhouse was pivotal in taking down the proposal.
01:41It's like saying I'm going to sell Centennial Park, you know, or the Sydney Cricket Ground.
01:47Racing history saved, but an industry's future now far from certain.
01:52St ness will get ready forĂŁoons.
01:57Sorry to messes up here again.
02:02Let's take the time.
02:06There.
02:08auto.