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Mooney Valley Reveals $200m Grand Plan
Melbourne's Moonee Valley "could be subjected to the greatest overhaul for an Australian metropolitan racecourse," reported The Herald-Sun. Under a plan "that the club believes would put $200 million in its coffers, the MVRC club is considering demolishing its grandstands & rebuilding along the north-east Wilson Street boundary". The new track "would be completed in 5-10 years if given the all-clear by the MVRC board" & chairman Bob Scarborough "says the proposal is viable". A new 325m home straight "would finish at the bottom of the Tabaret, which might also be demolished & shifted under the proposal; the layout of the course proper would be remoulded to fit in with the dramatic overhaul of the facilities". MVRC chief executive Michael Browell told the newspaper "the next step for the club would be to draw up plans & costings". He revealed "it would be funded by the sale of the top corner of the track (at McPherson & Wilson Streets) for the construction of a retirement village" & noted: "That might be worth anything up to $200 million for us. The development of the new Moonee Valley might cost $150 million. The numbers appear to stack up. You sell off the land, build the new track & put $50 million in the bank."