A HUGE slab of land zoned open space in Sydney's inner-west could be transformed into a ''new suburb'' under a draft plan by the City of Sydney that has excited developers and infuriated locals.

The council and the Central Sydney Planning Committee were given the responsibility of rezoning the Harold Park raceway, a block more than twice the size of the Carlton United Brewery site in Chippendale, after the NSW Harness Racing Club indicated to the state government it wanted to sell the land last year.

Harold Park.

An early draft for the rezoning that went on public exhibition this week has the site supporting up to 1000 dwellings for about 1900 people, in buildings ranging from two to eight storeys high. The historic tram depot at the north of the site would be retained, but converted for retail, commercial and community use. About 25 per cent would remain open space.

The draft proposal, which has not yet been endorsed by council, was revealed at fervid public meetings last week.