INGLEWOOD, CA-The Hollywood Park horse racing track will be transformed into a huge mixed-use development upon completion of its fall racing season.
Wilson Meany, with offices in Santa Monica and San Francisco, will be the developer on the project in a joint venture with Stockbridge Real Estate Funds, which owns Hollywood Park.
Located three miles east of the Los Angeles International Airport, Hollywood Park is the largest undeveloped parcel of land in greater Los Angeles. The track, including its barns and adjacent spaces, will be developed into a master-planned mixed-use development and is now in the entitlement phase.
According to Wilson Meany, current plans for the redeveloped 238-acre Hollywood Park site will include 3,000 residential for-sale homes; 620,000 square feet of retail; a 300-room hotel; and the existing Hollywood Park casino, which will take up 120,000 square feet in the new site. The property will also have 25,000 square feet of office/commercial space and 10,000-square feet for community services/uses.
Architects for the project include Cooper Robertson & Partners; EDAW; Baldauf Catton Von Eckartsberg; Quatro Design Group; and Mia Lehrer & Associates.
Hollywood Park officials referred development inquires to Chris Meany of Wilson Meany. He did not immediately return calls for comment. Among his past projects are the Ferry Building, One Powell and the Flood Building in San Francisco; and Broadway Pointe in Walnut Creek. He currently leads the redevelopment of Bay Meadows in San Mateo and Treasure Island in San Francisco.
Wilson Meany was founded in 2003 by development partners of William Wilson & Associates, Wilson Meany LLC and Wilson/Equity Office. Collectively, the firm has developed over 10 million square feet.
Hollywood Park was built by the Warner Brothers of film fame and opened in 1938. It was known as a celebrity attraction for many years. The Hollywood Park Land Co. bought the park from Churchill Downs in 2005 and said it would embark on a three-year commitment to improve the horse racing business.
But with waning interest in horse racing and increased competition from other gambling properties, the park failed to meet financial goals. Its closing was officially announced last week when the deadline for applying for a 2014 racing season arrived without a Hollywood Park application. The park is set to close on Dec. 22 of this year at the conclusion of its fall season.
As reported earlier by GlobeSt.com, Yelp and Monster Beverage Corp. moved into a building in San Francisco jointly owned by Stockbridge and Wilson Meany.