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.
In a major retreat from its campaign to develop land south of the Santa Anita Park race track, Santa Anita Realty Enterprises has withdrawn its application to build a $300 million entertainment complex.
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.
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.
At the City Planning Commission's General Plan Update meeting on April 29, 1996, an announcement was made that Santa Anita Realty had withdrawn its application for development of an entertainment center.
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.
More than 500 residents packed the Community Center last week regarding a proposed entertainment complex at Santa Anita Park. Opponents of the project have become increasingly vocal in recent weeks.
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.
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.
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.
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.