Plans for the 800-hectare site adjacent the South-Eastern Freeway purchased by the Murray Bridge Racing Club in February, includes a new racetrack and training complex as well as a 3500-home residential development and 30 per cent of open space.

Following a lengthy process, the Government (DPA) has now granted approval for the development which will be shared by MBRC, Thoroughbred Racing SA - this state's governing body - and leading Adelaide developer Burke Urban.

Work on the new track is expected to begin later this year with a start to racing proposed within two years.

The equine precinct, expected to cost in the vicinity of $35 million, will feature new and fully-resourced race and training tracks, multi-purpose function and spectator facilities, a specialised estate for trainers and their horses and 50 hectares of training facilities and the possibility of a custom-designed two-kilometre cross country training track, equine hospital and an industry training academy.

"We are tremendously excited to have signed this joint venture as we strongly believe this precinct has the potential to become the jewel in the crown of South Australian racing," MBRC chairman, Reg Nolan, said.

The existing racecourse will continue to operate until the new track is available for racing and then be redeveloped; the equine precinct being funded through the creation of the new 350-hectare residential community. Kym Burke, managing director of Burke Urban said: " The Murray Bridge project is one of our most exciting and ambitious."

"Our expertise in these kinds of developments will be of benefit in helping the Murray Bridge Racing Club and Thoroughbred Racng achieve the relocation of the existing racecourse within Murray Bridge to a new site.

"This will be one of the most significant projects undertaken in our state for some time and we are looking forward to releasing details of our plans in the months ahead."

The brand new racecourse will have an outer turf track with a circumference of 2160m, a width of 30m and a home straight of approximately 450m. An inner track will measure 1996m in circumference and be 20m in width with the facilities also including a sand track of about 1600m. TRSA chairman Philip Bentley said the development had the potential to become one of the best equine centres in the country and a hub of thoroughbred racing in the state.

Functions and spectator facilities at the new track will be spread over two levels with member and public dining areas, function facilities, offices, bar and betting concourse as well as raceday amenities for jockeys and stewards.