More than 6ha at Auckland Racing Club's Ellerslie venue will be sold off for residential development.
The land alone is estimated to be worth more than $100 million.
Herald racing editor Michael Guerin can today reveal more details about the development, and the impact on racing at the prestigious horse-racing venue.
Auckland Racing Club chief executive Paul Wilcox says the soon-to-be formed Auckland Thoroughbred Racing (ATR) will work with consultants through the consent process, but no deal has been done to buy the land.
The Herald believes it will be listed for sale soon.