The two racetracks will undergo a $1.2 billion transformation, with a concept master plan expected to be submitted to Brisbane City Council within 12 months.
The development will be self funded by Brisbane Racing Club, which was formed after Brisbane and Queensland Turf Clubs merged last year.
The project is designed to provide better training and racing facilities, with plans including track upgrades, new grandstands, hotels, parklands, commercial, retail and residential buildings.
Pedestrian tunnels will provide access to the infield areas for parking, recreation, stabling, equestrian events and community sports, set around a series of lakes.
Other ideas for the area include a boutique hotel with the grandstands which enable people to view the horses at close-range.
Funding to come from the sale of apartments, the leasing of commercial and retail operations, the management rights of two hotels that are proposed and the licensing arrangement of Hamilton Bowls Club, which will be rebuilt.
The Brisbane Racing Club has earmarked 13 hectares of land for development around each course.
Do you live in the area? How will this redevelopment affect you? What have you done about your concerns? What actions are being taken?