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Retail, Apartments, Hotel Planned Near Racetrack

ALBANY, CA-Magna Entertainment Corp. and Los Angeles-based Caruso Affiliated unveil preliminary plans for the redevelopment of 45 acres behind the historic Golden Gate Fields racetrack here. The project, which is subject to a vote of Albany residents, would open up the waterfront to public access for the first time in 65 years.

By Brian K. Miller | Updated on October 13, 2005

(For more retail coverage, click GlobeSt.com/RETAIL.)

ALBANY, CA-Caruso Affiliated and Magna Entertainment Corp. on Thursday unveiled their plans for the redevelopment of 45 acres of parking lots behind the historic Golden Gate Fields racetrack. The racetrack is located on the water side of Interstate 580, which runs along the east side of San Francisco Bay. The development, which is subject to a vote of Albany residents, would replace some of the parking with a large retail development, apartments and a hotel while also opening up the waterfront to public access for the first time in 65 years.

All of the commercial development–450,000 sf of open-air retail topped with 200 apartments and an 80-room boutique hotel–is proposed for eight of the 45 acres. The rest of the property will be remade into open space, restored beaches and parks, as well as an expanded salt marsh on the north side of the race track, all traversed by a permanent San Francisco Bay Trail.

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