Can someone explain the difference between Ascot and Ascot Waters?

Ascot Waters is the bit 'facing the city' on the city side of the Ascot racecourse. It is upmarket and the houses are on small blocks, up to 3 storeys high and almost terrace style in some spots. It has access to the boat marina and lots of good parks and walking areas. Ascot - the rest of the suburb is on the other side of the racecourse and has a range of housing. SOme is asscoaited with the stables areas and some is more regular like in the Tibradden Estate further down the hwy.