CYPRESS: Los Al Track redevelopment part of a trend among developmers

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Although the Los Alamitos horse race operation remains active, its owner, Doctor Ed Allred, is pushing to create a master-planned community on 150-plus acres.

The development is not an anomaly.  Developers and investors are placing their bets on mixed-use developments at former racetracks, according to Bisnow website.

At Los Al the plan calls for 24 acres of senior housing, 74 acres of single-family homes, 20 acres of mixed-use commercial, a 17-acre town center and 20 acres of parks. Voters will decide the future of this site in June.
The racetrack, which opened in 1951, was once home to California Chrome, which pulled off the Triple Crown in 2014 before retiring in 2017. Even with the horse’s success, the racetrack has been struggling and owner Ed Allred has said the raceway has about 10 years left of operation.

Read more at: https://www.bisnow.com/national/news/mixed-use/developers-bet-big-on-racetrack-redevelopment-projects-88075?utm_source=CopyShare&utm_medium=Browser

 

Author: losaltv

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