Pace was awarded the contract of sale for the 10,600 square-metre parcel of land at the famed Flemington Racecourse, following a competitive tender process which involved a number of prominent developers.

The land, which sits atop the racecourse’s 1,200 metre main straight known as the ‘Straight Six’, received approval for rezoning earlier this year under a planning scheme for 300 residential dwellings, and has undergone vigorous community consultation to ensure the future development protects the existing character and historic significance of the site.

VRC Chairman Amanda Elliott highlighted Pace’s submission was successful on the grounds of its long history of successful development in Melbourne, its innovative proposal for this unique site, and its community-focussed approach.

“Pace and the VRC have agreed to collaborate throughout the design process to ensure the development recognises the significance of its location and complements the extensive grounds and gardens at Flemington,” Mrs Elliott said.

Shane Wilkinson, Managing Director of Pace Development Group, explains that the vision for the site will deliver a spectacular stage for future residents affront one of Melbourne’s most celebrated sporting arenas.

“The uniqueness of this site presents Pace with an opportunity to deliver an architectural response unlike any other apartment building in Melbourne,” he says.

“The entire Pace team take very seriously the responsibility we have to honour the land’s racing heritage and are very proud to collaborate with the VRC to bring a new icon to the local Flemington community.”

The greatly anticipated design will be publicly revealed in early 2018, with the formal planning process to commence shortly thereafter.

The sales campaign for the land was managed by Peter Bremner, Trent Hobart and Hamish Burgess from Colliers International and transaction management was handled by Peter Hutchins and Tom Byrnes from Charter Keck Cramer.