City officials met with new Santa Anita Park owner Frank Stronach to discuss his plans for the race track. He wants to build a retail and entertainment village and an interactive horse racing theme park.
Canadian industrialist Frank Stronach bought Santa Anita Park for $126 million in cash Friday, and said he will share plans with the city later this month to spend roughly half that amount on improvements.
Starting this spring, the new owner of Santa Anita Park, Frank Stronach, is planning the first of what will likely be massive renovations to the horse racing facility.
Businessman Frank Stronach, who announced he is buying Santa Anita Park, has stated that his vision for developing the land is drastically different than Santa Anita's current proposal.
Frank Stronach, founder and chairman of the board of Magna International Inc., is buying Santa Anita Park from Meditrust. The $126 million purchase is expected to close today.
Multibillion dollar businessman and horse owner, Frank Stronach, has signed a letter of intent for his auto systems company, Magna International Inc., to buy Santa Anita Park
Santa Anita Park race track sold to Frank Stronach, a Canadian billionaire businessman and horse owner. The property is valuable to the city for sales tax reasons.
Santa Anita Park has been purchased by Frank Stronach for $126 million through MI Development, the real estate, entertainment unit of Magna International Inc., Canada's largest auto-parts manufacturer, of which Stronach is chairman.
International businessman and horse owner Frank Stronach confirmed Tuesday that he and Meditrust, the parent company of Santa Anita Park, have signed a letter of intent under which he will buy the race track.
Some residents north of Santa Anita Park are organizing to protest plans to build an enclosed 16,000 capacity concert arena in an unused portion of the race track parking lot.
Preservationists are protesting the remodeling at the Santa Anita Park race track. The Los Angeles Conservancy opposes the twin elevator towers and other plans under development.
The campaign over a controversial ballot measure to restrict development at Santa Anita Park race track is heating up, with two community groups coming out against the initiative and a new group being formed to support it. Measure M requires a majority vote of approval from Arcadia residents for any change in land use requested by Santa Anita.