Golden Gate Fields to be transformed into large public park if sale goes through
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A national conservation group has secured an option to purchase Golden Gate Fields, the Bay Area racetrack owned by 1/ST Racing and Gaming that closed in 2024. The prospective new owner will seek to convert the 161-acre property into a park and recreational area if the purchase is completed.
Although a price was not disclosed by the group, the Trust For Public Land (TPL), multiple Bay Area news outlets said the agreement was worth $175 million. The Trust For Public Land reached the deal in partnership with the East Bay Regional Park District, which is based in Northern California, according to the TPL announcement.
1/ST Racing and Gaming closed the track in the summer of 2024, citing chronic short fields and a dwindling fan base. Though the track is located on extremely valuable, bayside land in the town of Albany, zoning restrictions and community opposition to residential or retail development have limited the pool of buyers.
Golden Gate Fields was the last major racetrack in Northern California, following the closure and sale of Bay Meadows Racecourse in San Mateo, south of San Francisco, in 2008. The Bay Meadows property was turned into a residential and commercial development.
In its announcement, TPL said that the initial agreement will allow the trust to “work with partners to acquire the property” and then transfer it to the East Bay Regional Park District “for long-term ownership and stewardship.”
“The property . . . sits along a prominent stretch of East Bay shoreline and represents one of the largest remaining opportunities to expand public access to the bay while investing in a shoreline that is more resilient to flooding and sea-level rise,” the announcement said.
Elizabeth Echols, a board member of the East Bay Regional Park District, called the acquisition of the property a “dream come true” for the organization.
Buffy Wicks, a California Assemblymember representing a district that includes the East Bay, said that development of the property is a “once-in-a-lifetime opportunity.”
“Transforming Golden Gate Fields from an underused site of a bygone era into a vibrant public waterfront is exactly the kind of forward-thinking development our communities deserve – one that reflects our values, meets today’s needs, and creates lasting public benefit for generations to come,” Wicks said.
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