17 December 2025
TW Property welcomes Government funding for proposed Flaxmere Racecourse
TW Property has welcomed the Government’s funding announcement today for the proposed Flaxmere Racecourse, marking a significant milestone toward delivering a state-of-the-art, Tier 1 racecourse and training facility for Hastings and the wider Hawke’s Bay region.
The proposed 44.5-hectare development at the end of Portsmouth Road would become one of just five metropolitan racetracks in New Zealand, bringing top-level racing, major events and new economic opportunities to the region.
Figures released from the Beehive today state that project will create more than 400 full-time construction jobs during its four-year development phase and once completed, the racecourse is expected to sustain around 270 jobs across the local racing industry.
TW Property Chief Executive Terry May said the company is proud to be the development partner for the project, which has the potential to create jobs and deliver lasting benefits for Flaxmere and the wider Hawke’s Bay economy.
“This funding announcement represents an important step forward for a project that has the potential to deliver nationally significant infrastructure while supporting regional growth,” Mr May said.
“While the project remains subject to council approvals and statutory planning processes, we are optimistic about the opportunity ahead.”
The proposed racecourse and training facility has been carefully planned to meet the needs of the racing industry, while also creating a modern venue capable of hosting major events and attracting visitors to the region.
The project forms part of TW Property’s wider, long-term investment in Flaxmere. This includes the development of the new Woolworths supermarket, the Flaxmere Village Shopping Centre and new affordable housing, all focused on creating jobs, delivering homes and supporting lasting community opportunity.
Mr May confirmed that, should the proposed Flaxmere racecourse proceed, TW Property would develop the land at the site of the existing racecourse on Prospect Road.
“The focus for that site would be on high-quality housing, including a retirement village,” he said. “At this stage, there are no plans to begin development at this location for several years.”
In terms of timing, Mr May said TW Property has formally lodged its Private Plan Change for the proposed racecourse development, which is now with Hastings District Council.
“We expect to know the outcome by October 2026, and if approved, anticipate the first shovel in the ground by the end of next year,” he said.
Mr May said the project will continue to progress through the required statutory and planning processes in an open and transparent manner.
“We acknowledge the Government’s support for regional infrastructure investment and look forward to the next stages of the project as it progresses through the appropriate approval pathways,” he said.