Santa Anita Realty Enterprises won a long-awaited victory late Wednesday as the City Council tentatively granted a commercial land-use designation for an area that could serve as the site of a major entertainment center.
The Arcadia City Council unanimously decided to allow music and entertainment events at the 320-acre Santa Anita Park on 30 days over the next year as part of a pilot program. Events can be scheduled for weekdays from 9 AM to 6 PM and on Fridays and Saturdays from 9 AM to 11 PM.
Concerns about a proposed entertainment complex next to Santa Anita Park race track have been expressed by representatives of three stores in the Santa Anita Fashion Park.
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.
Santa Anita Park will have thoroughbred racing from December 26 through April 22, a season expanded by two weeks. The horse racing bill AB 3383 provided other changes in the sport that will affect Santa Anita Park.
The City Council reviews changes that would allow Santa Anita Park race track to operate the Frontrunner Restaurant and big screen TV year around and to allow for satellite TV wagering until 1:30 a.m. seven days a week.
Santa Anita Park race track's CEO and President Ron Charles said Santa Anita Park race track will not be sold to help Magnum Entertainment Corporation eliminate a $600-million-plus debt. However, Santa Anita Park race track is entertaining discussions with Magnum Entertainment Corporation concerning potential partnerships or joint ventures on a minority interest basis. Includes a historical timeline.
Santa Anita Park president Jack Liebau recently resigned because of disagreements with Magna Entertainment's Frank Stronach over the direction the track is headed.
Magna Entertainment Corp. (MEC), owner of Santa Anita Park, has filed for Chapter 11 bankruptcy protection. Santa Anita Park may be sold to pay off Magna's debts. Frank Stronach paid $126 million for Santa Anita Park in 1996. The track has three potential buyers, including a group from Asia.
Citizen input is sought on the proposed Santa Anita Commercial Center. The current proposal is 1/3 the size of the initial package presented in 1996 and would be built on 60 acres of what is now the south parking lot of Santa Anita Park.
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.