This is the first time in almost 40 years that public housing has been planned in Bukit Timah, said Minister for National Development Desmond Lee.
"This is to meet the growing aspirations among Singaporeans to live closer to their workplaces in the city."
According to the Housing and Development Board's (HDB) website, there are about 2,500 flats in Bukit Timah.
The Turf City estate will be car-lite, pedestrian-friendly, and well-served by public transport, said the Urban Redevelopment Authority (URA) in a separate press release.
The 176-hectare site was home to Singapore's second racecourse from 1933 to 1999, until the Singapore Turf Club relocated to Kranji, noted Mr Lee.
The site has been largely zoned for residential use since 1998, but was leased out for lifestyle and recreational use until the end of 2023, he added.