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.
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.
A grass roots committee has been formed by a group of Arcadia citizens who are in favor of Proposition M. The Arcadians for Sensible Development are urging a "yes" vote.
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.
Officials with the Santa Anita Companies, owners of the race track and Santa Anita Fashion Park, have filed a formal application with the City of Arcadia to build a new 100-acre entertainment center on its property.
City Council voted 5-0 to place the controversial ballot measure to restrict development at Santa Anita Park race track before voters in the November presidential campaign.
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.
The Santa Anita Companies and AMC Theatres announced a definitive agreement for AMC to build a 25 screen multiplex adjacent to the Santa Anita Park race track and Fashion Park Mall.
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.
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.
Nearly 24% of voters - about 5,566 of 24,207 registered - turned out Tuesday to decide on a school bond measure. Officials are disappointed with the low voter turnout.
The Santa Anita Companies was dealt a blow when the State Assembly Appropriations Committee shot down two key bills that would have allowed Santa Anita to begin expansion into the casino industry.
In an unusual move, the normally apolitical Arcadia PTA Council has endorsed Measure A on the April 14 ballot, pushing voter approval for a 2% utility tax increase.
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.