"A Manchester suite would be open to any race-goer, then there would be 22 boxes on a second level and a third level for judges. The building would be predominately glass and designed to look like it was floating on air."
Peel Holdings, who own the land at Worsley, believe it would be ideal as the nearest racecourse to 2.2m people.
Peel already own the £600m Trafford Centre, John Lennon Airport at Liverpool - plus another airport near Doncaster as well as Barton Aerodrome - and have plans for a new port on the Manchester Ship Canal in Salford.
Peter Nears, strategic planning director at Peel said: "It can be a flagship project. This is an opportunity which we think is unique and it is on Manchester's doorstep."
Possible traffic problems upset residents who protested against an earlier plan two years ago, but now two entrances are proposed - one via a new spur off the slip road for junction 13 of the M60 at Worsley; the other off the East Lancs Road at Boothstown.
If permission is granted, it will take about three and a half years to get the park and racecourse up and running. The plans will be submitted to Salford council next month and they are expected to be considered by the planning committee before the end of the year.
John Merry, leader of Salford council, said: "I believe this is an idea that has significant benefits for the whole area."
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