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Developer Rick Caruso of Caruso Affiliated is no longer pursuing a deal with Santa Anita Park owners MI Developments to develop an outdoor mall in the race track's parking lot. The project was known as The Shops at Santa Anita. Caruso said, "We're not pursuing it, because of the (Magna Entertainment Corp.) bankruptcy...and everything else." Arcadia city councilman Mickey Segal said it's a loss of "a projected $2.5 million to $3 million of revenue (each year) to the city" in sales and property tax.

https://arcadiahistory.andornot.com/en/permalink/newspaper32406
Newspaper
Pasadena Star News
Date
May 21, 2011
Pages
p. A1, A6
More detail
Newspaper
Pasadena Star News
Date
May 21, 2011
Pages
p. A1, A6
Subjects
Caruso Affiliated
Caruso, Rick
Malls
MI Developments
Santa Anita Park race track parking lot
Shops at Santa Anita
Item ID
32604AN
Collection
Newspaper Index
Less detail

Santa Anita Park's ownership changed hands on April 30 after Frank Stronach's Magna Entertainment Corp. (MEC) transferred many of its assets to Stronach's MI Developments (MID) (one of MEC's creditors), as part of a bankruptcy restructuring plan. Last week MI Developments, a real estate operating company, canceled its 2005 agreement with Caruso Affiliated to develop to the proposed mall known as The Shops at Santa Anita, but this week MI Developments hopes to work out a deal with developer Rick Caruso to build an upscale retail project in the track's parking lot.

https://arcadiahistory.andornot.com/en/permalink/newspaper32030
Newspaper
Pasadena Star News
Date
May 4, 2010
Pages
p. A1
More detail
Newspaper
Pasadena Star News
Date
May 4, 2010
Pages
p. A1
Subjects
Bankruptcy
Caruso Affiliated
Caruso, Rick
Magna Entertainment Corp. (MEC)
MI Developments (MID)
Santa Anita Park--2001-2010--development
Shopping malls
Shops at Santa Anita
Stronach, Frank
Item ID
32227AN
Collection
Newspaper Index
Less detail