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.
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.
Arcadia's officials, harboring "serious concerns" about a massive expansion plan for the Santa Anita Park property, want to meet with owner Frank Stronach. An artist's rendering of the proposal is included.
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.
The Arcadia City Council voted to request an analysis of the initiative petition submitted by the citizens group Neighbors for Arcadia. The measure would keep the Santa Anita Park race track property zoned for horse racing unless Arcadia residents voted for a change.
Santa Anita Park was named last week to a list of "America's 11 Most Endangered Places" because of owner Frank Stronach's plans to create a retail-entertainment center in the historic race track.
Canadian billionaire Frank Stronach, who is about to become the sole owner of Santa Anita Park, said he hasn't ruled out talking to developer Rick Caruso about reviving a project to build an outdoor mall in the race track's parking lot. Last week Caruso announced that he is no longer pursuing a development deal with Santa Anita Park's outgoing owner, MI Developments, Inc. (MID), for the upscale Shops at Santa Anita. Stronach is the outgoing chairman of MID.
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.
Frank Stronach, chairman of MI Developments, the owner of Santa Anita Park, says he is optimistic his company can work out a new deal with developer Rick Caruso to build an outdoor mall at Santa Anita Park, even though he voided a 2005 joint-venture agreement with Caruso in April to build the Shops at Santa Anita mall in the race track's parking lot.
Santa Anita Park Race Track owner Frank Stronach has met with city officials about Arcadia's concerns with the track expansion plan and future sessions will be held. The concerns centered around plans to build new barns on the north side of the property, the internal connections between the track and Westfield Shopping mall traffic and people, and architectural compatibility with the track.
Santa Anita Park president Jack Liebau recently resigned because of disagreements with Magna Entertainment's Frank Stronach over the direction the track is headed.