By Arcadiasbest.com
ARCADIA, Calif. (Aug. 18, 2014) — Santa Anita Park is contemplating adding 800 horse stable barns in the north parking lot area, building two “high-class” restaurants on the opposite corner of the property near the Huntington Drive entrance to the Westfield Santa Anita mall, and potentially developing a major retail/entertainment component in the next couple of years to adjoin the track that could also include a hotel.
None of these plans has been officially proposed or submitted to the City for consideration. But during a study session prior to the Aug. 5 Arcadia City Council meeting, the Mayor, Council members, city staff and members of the public heard the tentative plans of Santa Anita Park chairman Keith Brackpool for future development of the 304-acre site.
Just a few years ago the City Council unanimously approved a major 800,000 commercial development called Shops at Santa Anita by the creator of The Grove and The Americana at Brand, Rick Caruso, for the 85-acres of the south parking lot of the track. But after legal challenges by neighboring Westfield the project died during bankruptcy proceedings for Santa Anita. Track owner Frank Stronach sought to change the partnership agreement he had with Caruso when he brought the track out of bankruptcy through the newly-formed Stronach Group, which resulted in Caruso ending his relationship with Stronach and the track.
But now Brackpool, who was appointed chairman last year, said the company seeks to develop much more of the entire property than the big parking lot on the south side along Huntington Drive.
“A Caruso-type project would be nice,” he said, as would a hotel built into the track similar to the Camden Yards baseball stadium in Baltimore (or Meydan in Dubai). “We could build something magnificent there (in the first turn of the track),” he said. “We don’t need all 65,000 seats.”
But the first priority is the northern 219 acres. Brackpool said that with the demise of Hollywood Park last year, there is an immediate demand for 800 horse barns. Santa Anita will soon make this proposal to the City.
Next will be making use of two acres of long-vacant land by the old Gate 1 at the southwest corner of the parking lot alongside Huntington Drive next to the mall.
In response to a question by Council Member Roger Chandler about the long-term commitment to this future and a succession plan for Stronach given his age (he will be 82 next month), Brackpool said he is one of two partners of Stronach with an equity stake in Santa Anita. “There is a plan in place if any one of us is hit by a bus,” he said, noting that they all believe in the future of the viability of horse racing as a spectator sport.
“Coming to the track is better than sitting at home,” he said.
Brackpool further noted that said Stronach is the only horse track owner currently putting money back in to racing facilities; $30 million in the last two years for improvements to the track (being completed this month), new luxury suites (more coming), and other remodel facelifts — “Churchhill Downs (home of the Kentucky Derby) is not interested in putting money into horse racing.”
He pointed out that the Stronach Group owns seven race tracks as well as horse farms and a TV network. Santa Anita is taking over operations of their operations in south Florida, he said. Stronach owns Gulfstream Park between Miami and Fort Lauderdale, which has developed adjacent office, retail, restaurant, residential, entertainment, and casino gaming elements.
Brackpool said he would like to introduce restaurants at Santa Anita “something like the restaurants at Gulfstream.”
In response to a query by Council Member Sho Tay about retail and entertainment with an international flavor, Brackpool said they have already had “three very interesting offers from developers with an Eastern influence.” However, Brackpool told ArcadiasBest.com after the study session that Santa Anita/Stronach will not be looking for a developer investment partner again as they had with Caruso, noting that they would not be interested in giving up any equity stake.
In discussing the state of horse racing in general during the Study Session, Brackpool said there are improvements needed to revive the industry’s health. For one, he said California horse racing gets “zero money from gaming — the only state that is that way.”
He also said the exodus of horses leaving California tracks to race elsewhere where returns are better has stopped with recent legislation being passed to give horse owners a bigger cut of wagers.
The meeting was sparked by a conversation at the City’s goal-setting workshops earlier this year during which the City Council suggested the City be more pro-active regarding future development at the track property. In addition, the City is in the process of re-evaluating zoning throughout Arcadia. City officials said they want to avoid being too descriptive by creating specific zoning of every square foot of the Santa Anita property. The City has indicated in its 2010 General Plan update and by staff and Council Member comments that it would like to see any future development of the property around Santa Anita be developed as a cohesive project rather than piecemeal buildings and projects. The new about-to-be-opened Hale medical building on the five-acres across from Methodist Hospital should be the last of that kind of one-off project they say.
The city would like any future development performance criteria to include the support of horse racing and related activities, to be world class in scope while generating revenue for the city and being compatible with the character of Arcadia. No single family uses are contemplated, although City Manager Dominic Lazaretto noted that the school district has said recently that it could absorb students from families in new housing developments. But any residential use of the land would require re-zoning. And any development would trigger consideration of historic preservation issues.