Caulfield favourites on track

Simon Johanson February 13, 2012

THE carve-up and redevelopment of Caulfield racecourse is a step closer, with the race club shortlisting three developers to bid on the multimillion-dollar project.

Lend Lease, Mirvac and Beck Property Group are believed to be contenders with one of the three expected to be chosen next month to oversee the development.

Melbourne Racing Club chief executive Alasdair Robertson would not comment on the shortlist but said all developers would be required to follow the incorporated plans for the site.

The club will continue racing at the track but will parcel up parts of the surrounding land for residential, retail and commercial development.

One precinct in Smith Street will become the new entrance to the racecourse and include offices and 219 apartments and short-stay accommodation units.

A new ''boulevard'' linking Station Street to the rail underpass will have a supermarket, specialty shops, professional services, restaurants, cafes and up to 340 extra units.

A third part of the site along Heywood Street will house 270 medium-density dwellings.

There were a range of scenarios for how the development would be undertaken, ''that's all part of the discussion, '' Mr Robertson said.