Harness Racing New Zealand and the Forbury Park Trotting Club have been in negotiations about the St Kilda site and significant meetings are due to be held this week.
The venue became surplus to the industry’s requirements in August and HRNZ had since sought public feedback about what should happen to the 12.2ha site.
HRNZ has not disclosed the results of its public consultation process, other than confirming it attracted about 300 submissions.
No decision had been made about what should be made public, HRNZ said.
The organisation had been talking to the club about the next steps and the picture was likely to be a bit clearer early next year, a spokeswoman said.
Selling the site for a housing development is among the options.
Other possibilities are retaining some buildings there, extending St Clair School playing fields and using the site to mitigate flooding or manage stormwater.
A planned Forbury Park chattels auction of more than 400 items remains on hold amid Covid-19 restrictions.
Auctioneering firm Carrfields indicated it could be in a position to make plans for the clearance sale after Government announcements next week about Covid-19.
