Racing: ATC in big move to secure its future

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Alexandra Park could be racing for a minimum stake of $20,000 in five years after moving a step closer to the biggest development in the history of New Zealand racing.

The Auckland Trotting Club (ATC) members have approved the development of what they are terming an urban village on a section of Alexandra Park along Greenlane Rd.

The $205.4 million development will see four buildings for mixed residential and retail use, two of nine storeys and two of six.

The ATC plans to sell all 231 apartments but retain the ground floor retail space to provide a sustainable revenue stream.

With Auckland City Council consent granted, ground is expected to be broken for the developments in April next year with an opening date due in late 2016.

With much of the $205.4 million to be borrowed the ATC will look to have half the apartments sold and half the retail space leased before the project goes ahead.

The developments are the centrepiece of a plan to eventually pour millions more into stakes with a goal to have all races at Alexandra Park for a minimum of $20,000 inside five years.

That would put the track in a different stratosphere to any other harness racing club in New Zealand and even stronger than the huge money available in Perth and Sydney.

Which would not only slow the export market but increase yearling sales demand, the best way to put the brakes on falling breeding numbers.

While there is no silver bullet for racing's woes, the one thing that always helps is money and if the ATC board of directors is right, this huge investment could cement the club's future and that of harness racing in Auckland forever.

Champion trainer Barry Purdon is now on the ATC board and said being part of the process was fascinating.

"Seeing it unfold has made me realise there are some really smart people driving this," said Purdon.

"And the possibility of $20,000 stakes makes harness racing feasible for younger people getting into or wanting to stay in the industry.

"You need incentives in life, no matter what you are doing, and I think this will provide one."