A 140-year-old racecourse and quiet suburban train stations will become vibrant town centres under proposals set to deliver more than 210,000 new homes across Sydney, Newcastle and Wollongong.
Almost 40 station precincts including many in heritage areas will be subject to increased density while serious discussions are underway to shift horse racing from Rosehill Racecourse.
The major announcements came on the back of the opening date of the $A25 billion ($NZ26.6b) Sydney Metro West line being pushed out to 2032.
Those extra two years put the project on a more sustainable timeline and would allow for the development of two more stations, including the potential Rosehill site.
The racecourse has emerged as a leading candidate for a new station after owner Australian Turf Club (ATC) made an unsolicited proposal to build on the home of Golden Slipper and George Ryder Stakes, won four times by Winx.
The proposal would relocate 300 to 400 stables west to a new centre of excellence training facility at Horsley Park by 2030, redevelop Warwick Farm and Canterbury and earmark sites for a new, world-class racecourse.
Funds from the Rosehill redevelopment, which will include new school and green space, would be invested in racing, training and spectator facilities at all racing, training and stabling venues.
With the 24km Metro West line already due to be tunnelled under the racecourse, the government will now consider the feasibility of a station at Rosehill, set to serve 25,000 homes.
The $5 billion proposal was the most significant opportunity in the history of Sydney racing, ATC Chairman Peter McGauran said.
"This future-proofs Sydney racing for a century to come," Mr McGauran said.
"It will cement Sydney racing as the best, most modern and financially secure jurisdiction anywhere in the world.'"
Premier Chris Minns described it as a "once-in-a-generation opportunity", both for the ATC to secure the future of racing and his government to put "its money where its mouth is" on housing.
Silverwater, saddled between Rosehill and Sydney Olympic Park, has been rumoured as a second Metro West stop.
The two stations would interrupt a seven-kilometre run between Parramatta and Olympic Park that had baffled pro-housing groups.
Sydney Metro will be also tasked with broadening the catchment of all Metro West stations to deliver more bang for buck.
The increased density plans around 39 train stations confirm the Minns government's transport-orientated development program, parts of which were accidentally leaked on Tuesday.
The drafts were criticised by the Property Council as "half-cooked" and marred by political, not policy, decisions.
Up to 47,800 new, well-located, high and mid-rise homes will be built within a 1200-metre radius of eight tier-one station precincts over the next 15 years.
Developments worth more than $60 million will receive accelerated approval pathways while "up to 15 per cent" of the homes will be reserved in perpetuity as affordable housing, helping essential workers.
About $520 million will be reserved by government for community infrastructure such as roads and open spaces.
Another 138,000 new homes will be created through snap rezoning in 31 tier-two precincts, opening the door to residential flat buildings within 400 metres of Metro or suburban rail stations.
"Housing choice means not everything is high-rise," Planning Minister Paul Scully.
"We're focused on building well-designed communities, rich with diverse housing types."
Bankstown, Bays West, Bella Vista, Crows Nest, Homebush, Hornsby, Kellyville and Macquarie Park
Newcastle: Adamstown, Booragul, Hamilton, Kotara, Newcastle Interchange, Teralba
Central Coast: Gosford, Morisset, Wyong, Tuggerah
Sydney: Ashfield, Berala, Canterbury, Croydon, Dulwich Hill, Gordon, Killara, Kogarah, Lidcombe, Lindfield, Marrickville, North Strathfield Metro, Rockdale, Roseville, St Marys Metro, Turrella, Wiley Park
Wollongong: Banksia, Corrimal, Dapto, North Wollongong