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.
Santa Anita REAlty Enterprises has poured more than $78,000 into the campaign to defeat Measure M, the Nov. 5 ballot measure to give voters veto power over the development of an entertainment complex near the company's race track.
Members of Neighbors for Arcadia, the grass roots organization opposed to Santa Anita's proposed Arts and Entertainment Center, appeared at City Hall to file over 5000 signed initiatives with the city clerk's office.
Dr. and Mrs. Robert Ellison hosted an open meeting in their home of a recently formed group called Neighbors for Arcadia. The group has met several times recently and was formed in a effort to unite residents in opposition to the proposed Santa Anita Entertainment Center.
Two bidders that had been attempting to take over Santa Anita Companies announced that they are joining forces. If the deal goes through, Koll Arcadia Investors and Colony Capital Inc., would own approximately 70% of Santa Anita's stock.
Candidates for city council give their comments regarding the proposed Santa Anita Arts & Entertainment Center. Proposition C is explained by City Attorney Mike Miller.
The fate of Santa Anita Park remained up in the air following a sudden management shake up at its corporate parent, Meditrust Cos. Meditrust Chairman and CEO Abraham Gosman resigned Tuesday.
The Santa Anita Companies are disposing of non-core real estate assets as part of a long-term program which they say will improve cash flow and net income.
The Santa Anita Cos., Monday reaffirmed its commitment to the previously announced strategic alliance with Colony Capital and its affiliates, saying that a rival bid by Newport Beach based Koll Arcadia Investors was "incomplete."
Newport Beach real estate developer Don Koll and Leon Black of New York-based Apollo Real Estate Advisors have made an unsolicited offer to invest approximately $180 million in Arcadia-based Santa Anita Cos.