Final $800m Caulfield Racecourse development stage moves ahead Weâre sorry, this service is currently unavailable. Please try again later. Dismiss Save Normal text size Advertisement The developers of surplus land at Melbourneâs Caulfield Racecourse expect to lodge plans by the middle of this year for the ambitious final $800 million stage of the decade-long project. BPG Caulfield Village, a consortium led by Beck Property Group and Probuild, is moving ahead with the last piece of one of Melbourneâs largest infill projects that lies between Caulfield Railway Station and the cityâs second most famous horse racing track. BPGâs Matthew Reszka, Sam Beck and Barry Shepherd.