The East Bay Regional Park District board is set to vote Tuesday, Oct. 20, on a $175 million deal to buy the former Golden Gate Fields racetrack on the Albany-Berkeley shoreline "as-is," without any environmental testing before the sale, according to a staff report described by The Berkeley Scanner. The board meets at 1 p.m. at 2950 Peralta Oaks Court in Oakland, with in-person and Zoom options.

The vote would authorize a purchase agreement with the Trust for Public Land (TPL), the nonprofit that holds the option to buy the roughly 160-acre site from the Stronach Group. The Stronach Group has owned the property since 1999 and ran horse racing there until June 2024. Once the deal closes, the park district would become the long-term owner.

No testing before the sale

Under the proposed agreement, the sellers "are not allowing any environmental testing on the Property during the due diligence period," a condition district staff called "a unique aspect" of the deal. Instead, the Stronach Group would pay the park district a one-time $8.25 million for cleanup of known contamination, testing after the purchase, and pollution liability insurance.

That insurance would cover claims made within 10 years of closing over contamination nobody knew about, with limits of at least $10 million per incident and $20 million total. Any money left over would stay with the district. The agreement would also release TPL and the Stronach Group from future environmental liability for contamination on the site.

Who pays for the $175 million

  • $125 million from the state of California, secured with help from state Sen. Jesse Arreguín and Assemblymember Buffy Wicks.
  • $20 million from the park district's Measure WW, the bond voters approved in 2008.
  • Up to $25 million from a San Francisco Bay Restoration Authority grant that has not yet been awarded, plus about $5 million in private donations.

The district's project page says the price includes the owner removing all above-ground structures. Tuesday's resolution keeps that demolition requirement, though it notes a separate agreement would be needed if demolition is not finished by closing. Some Albany residents had asked at a town hall last month that the clubhouse, grandstand or smaller historic features be saved.

What happens after the vote

Closing is expected in the first quarter of 2027, though staff wrote that TPL is "currently renegotiating" the final deadline, and the state must still approve an updated Oct. 6 appraisal. After the purchase, the site would sit in "Land Bank" status, closed to the public except for the Bay Trail, until it is "safe and suitable" for use. Staff estimate $820,000 in one-time security costs, mostly $500,000 for fencing and gates and $200,000 for surveillance. A Verizon cell tower lease on the property would bring the district nearly $300,000 a year.

The district says a public planning process with Albany and Berkeley would run from 2027 to 2029, with park construction in phases after that. Albany officials have voiced frustration with TPL's outreach; Councilman John Miki said Oct. 5 that the group had not "been good partners." The Berkeley Scanner notes the deal would mean a large financial hit for Albany. Albany's Measure P on the Nov. 3 ballot is written for the case where the site becomes tax-exempt public land.

Background: Golden Gate Fields moves closer to becoming a waterfront park.