Source: New Zealand Government
The Government is investing in a racecourse transformation in Hawke’s Bay to help free up prime land for homes in Hastings, Racing Minister Winston Peters and Regional Development Minister Shane Jones says.
The project represents an investment of just over $77million in the region with a $20m loan from the Regional Infrastructure Fund and $57m in co-funding from Hawke’s Bay Racing Incorporated and New Zealand Thoroughbred Racing Incorporated.
“This initiative will enable the development of homes where they are needed, create jobs for locals and retain a valuable racing industry asset that has contributed to the local economy for over 150 years,” Mr Jones says.
The project centres on relocating the Hastings Racecourse, which has been closed for racing since 2024 over track safety concerns.
“The racecourse closure was threatening the thoroughbred racing industry’s $37m annual GDP contribution to the Hawke’s Bay and Gisborne economy,” Mr Peters says.
“The new venue will be a state-of-the-art hub for racing, equestrian sport, and community events. Its modern racetrack will be capable of accommodating up to double the race meetings held previously,” Mr Peters says.
“The project enables the existing racecourse site to be freed up for more than 600 new houses, thanks to its existing residential zoning,” Mr Jones says.
The new site will also serve as a civil defence centre in the event of a natural disaster, providing a safe and resilient space for the Flaxmere community
The project will create more than 400 full-time construction jobs during its four-year development phase and once completed, the racecourse is expected to sustain around 270 jobs across the local racing industry.
“This initiative is about more than bricks and mortar. It is a boost for the regional economy, and it continues more than 150 years of racing history in the region,” Mr Jones says.
