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Company Proposes Racetrack in Salem Township

SALEM TOWNSHIP, MI-Magna International purchases land from Real Estate Interest Group held by Taubman Companies for mall development. Horse racing, restaurants and hotels could be in a mixed-use entertainment facility.

By Robert Carr | Updated on May 22, 2001

SALEM TOWNSHIP, MI-Magna International has purchased more than 270 acres at the M-14 and Gottfredson Road interchange with plans of creating a horse racing track. The property had been optioned from the Taubman Companies by a local development company, Real Estate Interest Group.

The proposed site was smaller at first, but REI added a few parcels to create a larger portion, and in turn sold to Magna, according to Neal Warling, senior vice president at Grubb and Ellis of Southfield.

Magna, under the division Magna Entertainment, has proposed a mixed-use entertainment facility, which would feature horse racing, restaurants, hotels, and more. The REI Group was asking about $65,000 per acre for the property at the northwest corner of Gottsfredson Road and M-14, Warling says.

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