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83-Acre Race Track Redevelopment Gains City OK

SAN MATEO, CA-The unanimous vote by the city council here clears the path for Bay Meadows Land Co. to begin site work, including demolition of the existing structures.

By Brian K. Miller | Updated on April 23, 2008

SAN MATEO, CA-The mixed-use redevelopment of the 74-year-old Bay Meadows race track here took a big step forward this week when the San Mateo City Council approved detailed plans for the next phase. The unanimous approval clears the path for Bay Meadows Land Co., which is owned by Stockbridge Real Estate Funds, to obtain the demolition and grading permits necessary to prepare the first quarter of the remaining 83.5 acres for redevelopment.

Site work is expected to begin in September, less than a month removed from the last day of scheduled racing at the track. Plans call for up to 1,200 residential units (apartments and condos), 750,000 sf of offices, 100,000 sf of retail and 15 acres of parks. The first structures are expected to be completed in 2011. The developer has a 15-year window to complete the project.

The City Council vote approved detailed plans for the first 21 acres that will be redeveloped. The piece includes the area’s eventual commercial center, which will be located along Delaware Street and near a proposed CalTrain “express stop.” Plans call for four- and five-story buildings with retail at the street level and office and residential above.

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