Bill Cronin, of New England Development, tells GlobeSt.com that the plans for the site involve 250,000-sf of retail development that will include a Stop & Shop supermarket, Target and a number of smaller stores. Cronin says that the company is currently in the middle of the local permitting process.
The racetrack has been struggling to survive over the past few years. The state legislature is in the process of considering whether to allow gaming at the state's racetracks which would have huge implications for Suffolk Downs. Cronin declined to disclose the sale price on this deal, but according to local published reports, the property sold for $10 million.
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