Plans for the development of a major new €460m (£414.6m, US$679.6m) cultural, sporting and leisure complex near Two-Mile-Borris, County Tipperary have been unveiled.

Dublin-based businessman Richard Quirke - the man behind the Dr Quirkey's Good Time Emporium attraction in the Irish capital - is leading the plans for the 800-acre (323.7-hectare) Tipperary Venue. The centrepiece of the Tipperary Venue development will be a reconstruction of the original White House in Washington, US, as it looked in 1829. Supported by the White House Historical Association, the building will be named the Hoban Memorial in honour of the landmark's architect, James Hoban.

A racecourse including a National Hunt track, a sprint track and an all-weather floodlit track has been earmarked as part of the scheme, as well as a greyhound track featuring a dual stadium with the capacity for 7,000 spectators. The scheme also includes a 15,000-seat underground entertainment venue with a retractable roof, an 18-hole signature golf course, a driving range, an equestrian centre, high-end retail outlets and a timber chapel.

Meanwhile, a proposed casino that would form part of a 500-bedroom hotel will be dependent on whether the Irish government completes an overhaul of existing gaming laws that do not currently permit licences for casinos. Michael Lowry, the independent TD (Teachta Dála) for Tipperary North, said: "After a year that has seen the loss of almost 16,000 jobs in the mid-west region alone, this development is a vital lifeline to the economy of North Tipperary."

Plans for the scheme, which incorporates a range of eco-friendly measures in a bid to ensure the venue creates 80 per cent of its power requirements, are now set to be submitted to North Tipperary County Council.