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.
Magna Entertainment Corp., owner of Santa Anita Park race track, which is in bankruptcy reorganization hearings, filed a plan that would cancel its 2005 agreement with Rick Caruso to develop the 830,000 square feet Shops at Santa Anita on the race track's south parking lot. Caruso filed an objection to the move in bankruptcy court, citing "substantial economic harm" to Santa Anita Associates, LLC, the legal entity that was going to develop the project. Santa Anita LLC has so far invested over $25 million to the project's development. Caruso is committed to developing the project in Arcadia. If the contract is indeed terminated between the parties, Magna would have to start from scratch with new plans, new environmental impact reports, and new hearings to propose another development.
Last year it seemed Santa Anita Park might be sold in a bankruptcy auction, but it appears owner Frank Stronach will keep an interest in the track. Under a deal arranged by Stronach's bankrupt Magna Entertainment Corp. (MEC) and its creditors in a Delaware bankruptcy court, ownership of the track would be transferred to MI Development, a real estate holding company controlled by Stronach. If a judge accepts the plan, Stronach would also retain ownership of Golden Gate Fields in the Bay Area, and Gulfstream Park in Florida. Also, it sets up developer Rick Caruso to proceed with building the Shops at Santa Anita mall that is proposed for the track's parking lot.
Santa Anita Companies has announced earnings for the year ending December 31, 1981. Revenues were up 23.5%. Shares of the two companies, Santa Anita Operating Company and Santa Anita Realty Enterprises, Inc., are offered on the New York Stock Exchange under the name Santa Anita Realty Enterprises.
Local 280 of the Parimutuel Guild of California voted not to strike Santa Anita Park on opening day. The track had made contingency plans in preparation for the threatened strike but the clerks endorsed the proposed contract raising clerks pay at satellite wagering sites.
Santa Anita Park to open Friday, March 29 with California Horse Racing Board (CHRB) approval. Santa Anita Handicap now to be run on Santa Anita Derby Day April 6.
The Oak Tree Racing Association lost its lease to operate its fall horse racing meet at Santa Anita Park. Oak Tree has operated a fall meet at the track since 1969. Due to bankruptcy restructuring, Frank Stronach's company MI Developments took control of Santa Anita Park from Stronach's Magna Entertainment Corp (MEC). MI Developments wants to negotiate a new lease agreement with Oak Tree for fall racing.
Santa Anita Park owner Frank Stronach is coming to town this weekend to meet with local horsemen to talk about the state of the sport. He'll also meet with an engineer to discuss the pros and cons of a proposed new racing surface consisting of dirt, sand, and a small amount of fiber. He says it is a very safe surface. The question remains, who will foot the bill for it, since Stronach's Magna Entertainment Corporation (MEC) filed for Chapter 11 bankruptcy last year.
Camp Santa Anita Ordnance Training Center, at Santa Anita Park, from 1942-1945, is featured in a temporary exhibit at Gilb Museum of Arcadia Heritage, through March 30.
City of Arcadia has been revising its General Plan and the first public draft was released last week. The General Plan, a 25-year blueprint for how the city could develop was last updated in 1996. The plan addresses the Gold Line station and allows for mixed-use residential and commercial development north of Huntington Drive in the downtown area, and on Live Oak Avenue. The plan must go before the Planning Commission, then the City Council for approval.
Food a big draw at 626 Night Market, the Asian-inspired festival at Santa Anita Park. It is in its fourth season of food, entertainment, art and shopping.
The California Horse Racing Board authorized Oak Tree Racing Association to have its traditional fall meet at another thoroughbred venue in Southern California since the association's use of Santa Anita Park is still uncertain. MI Developments, which is chaired by Frank Stronach, recently voided Oak Tree's contract after acquiring the race track from Stronach's Magna Entertainment Corp (MEC) through federal bankruptcy proceedings. Oak Tree's director Sherwood Chillingworth said, "If we can't make a deal with Santa Anita...we can take our dates and run them in Hollywood or Del Mar."
Santa Anita Park set a record for total attendance (2,690,834) and had it highest daily average attendance (31,289) since 1948, as the 1981-82 meeting closed April 21. Facts and figures about the racing season are presented.
The Arcadia Planning Commission approved the development of a retail shopping center at the corner of Santa Anita Avenue and Duarte Road. The approval was made after determining that such a project would not cause adverse traffic congestion.
Santa Anita Park owner Frank Stronach met with about a dozen horse trainers to discuss the track's racing surface. Stronach announced that he would not replace the synthetic Pro-Ride track yet, but will stick with it until he gets the ability to run the track with less state regulations. He wants free enterprise, which he may never get. In the meantime, drainage problems and injuries persist on the synthetic track. Stronach said he'd be back in April to discuss the issue more.
Paul Graf, 90, of New Albany, Indiana, came back to Arcadia to see Santa Anita Park again. He had been based there as a United States Army staff sergeant during World War II, when the track was turned over to the Army Ordnance Corps for training purposes and was officially renamed Camp Santa Anita. Graf said he used to run for exercise on the Anita Chiquita training track, which was eliminated when the Santa Anita Fashion Park was built in the 1970s. Graf had arrived at Camp Santa Anita around November 1942, after the site had already been used as the Japanese Assembly Center. Photo shows Graf holding an issue of Man O' War, a newspaper issued by army personnel at Camp Santa Anita.
Actor and activist George Takei, 75, famous for his portrayal of Sulu on television series Star Trek, will talk about gay rights and a childhood spent in internment camps at Santa Anita Park (assembly center), Tule Lake and Rohwer, Arkansas, during World War II. He will be speaking at Cal Poly Pomona on Tuesday.
Westfield Santa Anita mall, Santa Anita Park race track, and other businesses cope with power outages and wind damage. Westfield Santa Anita mall was unable to open due to a widespread power outage although power was restored to the center's east end by 4:30 PM yesterday. Santa Anita Park was closed yesterday due to a power outage. The race track also sustained wind-related damage to the roof in its stable area and also had several uprooted trees. Huge, old trees were blown down in Arcadia.
World War II internees reunite. Japanese Americans detained at Santa Anita Park before being sent to camps share photos, memories and friendship, at 75th anniversary event in Little Tokyo. See hard copy in VF Assembly Center.