Santa Anita Companies have submitted a down-scaled entertainment complex with the new proposal for developing the South parking lot of the Santa Anita Park race track property.
Meditrust will be selling Santa Anita Park race track at a lower price than the $400 million purchase price about a year ago. Due to laws changing in July, tax advantages are no longer available.
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.
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.
Representatives of the National Trust for Historic Preservation announced that Santa Anita Park race track has been named to their list of the country's most endangered historic places. Efforts mount to preserve Santa Anita's architectural integrity.
The Santa Anita Park race track will be allowed to work round-the-clock on the renovations to be completed before the beginning of Oak Tree on September 29th.
Santa Anita Park race track requested that the City Council delay acting on legislation that would govern its nighttime operations. Public hearings will be held so that the track's stance can be explained to neighboring homeowners.
The City Council gave a first reading to an ordinance that would allow the FrontRunner restaurant at Santa Anita Park race track to be open year round instead of just during the race season.