Golden Gate Fields park deal: All the latest details
Officials have begun answering key questions about potential financial impacts in Albany, the timeline and what the public process will entail.
The plan to turn Golden Gate Fields into a public park got a massive boost this week, with a $125 million set-aside from Gov. Gavin Newsom.
In total, the buyers must secure $175 million to complete the purchase by the deadline in early 2027.
The project team — the Trust for Public Land, in partnership with the East Bay Regional Park District — is working to "assemble a funding package of public and philanthropic sources" to close the gap.
They'll get some help from the East Bay Regional Park District, which previously committed $20 million from Measure WW toward the conversion, officials said Friday.
The Newsom earmark won't be final until the legislature approves the 2026-27 budget next month.
Even with his allocation, the "option agreement" to buy the land is not a done deal, cautioned Guillermo Rodriguez, who oversees California operations for the Trust for Public Land (TPL).
"While today’s announcement is an important step forward, this campaign is far from complete," he said Thursday in a prepared statement. "Significant partnership, public support, and additional investment remain necessary to secure the property and realize the full promise of this transformational project."
The purchase price "includes removal of existing above‑ground structures," the park district said.
Still more money will be needed to prepare the site for the public. Cost estimates for that portion of the project have not been shared. (The Scanner will continue to ask.)
According to information released this week, the purchase would be followed by a "robust public process from 2027 to 2029," followed by phased development as funding becomes available "beyond 2029," the park district said.
On Thursday, state Sen. Jesse Arreguín lauded Newsom for his "bold vision" in setting aside the money for a new bay-front park.
"Our waterfront is our greatest public asset, and this investment is a once-in-a-generation opportunity to turn this iconic site into a park for all Californians to enjoy," Arreguín said.
The Golden Gate Fields property, just south of Albany Bulb, spans 162 acres (31 are under water). It is surrounded to the north and south by McLaughlin Eastshore State Park.
Newsom's investment, part of the state budget's May Revise, came as part of his "Outdoors for All initiative."
The money, described as one of two "significant budget adjustments" in that section, would come from Proposition 4, the Climate Bond, approved by California voters in 2024.
How will the Golden Gate Fields deal affect Albany?
The plan to convert Golden Gate Fields into a public park brought a wave of excitement when it was announced in March, tempered by some measure of concern — particularly in relation to how a potential sale would impact Albany finances.
Before the Golden Gate Fields racetrack closed in 2024, it was among Albany's top commercial taxpayers, along with Toyota and Target.
The track historically brought in millions of dollars each year in tax revenue, helping support a broad range of city and school district services.
The exact figure it paid has not been released, but one estimate put it at more than $4 million.
On Friday, the city of Albany shared new details about potential financial impacts, writing: "If the track is sold, the biggest financial concern for the City would be if the property were sold to a tax-exempt entity."
Selling to a taxable entity would result in a reassessment under Prop 13 — and a significant increase in special fund taxes, the city wrote.
"With a tax-exempt entity, those property taxes would no longer be assessed," the city said.
According to Albany's analysis, Golden Gate Fields generates about $1.1 million in special revenues each year for the city and about $700,000 for the Albany Unified School District.
The majority of that money "would simply go away" if a nonprofit buys the site.
That money is used to fund several significant services, Albany wrote.
- Measure K (EMS Services): $400,000 (20% of the total from that tax)
- Street and Storm Drain parcel tax: $287,000 (nearly 22% of the total)
- Library parcel taxes: $100,000
- Storm Drain Fee: $54,000
"The loss of these revenues would reduce the City’s ability to provide a variety of services unless other funding sources can be found and substituted," the city wrote.
In addition to parcel taxes and undisclosed property taxes, the track also generated $150,000 to $300,000 each year for Albany's General Fund, the city said: "This came from a combination of racetrack, sales, business license, and utility users' taxes."
In fiscal year 2023-24, the track paid about $400,000 in "non-property tax general fund revenues," about 1.3% of the city's total revenue.
Editor’s desk
Golden Gate Fields: What comes next?
This week, the East Bay Regional Park District published a list of frequently asked questions about its plans to convert Golden Gate Fields into a park.
The page includes a new email list to help people stay informed.
The following information has been drawn from that page and republished below, with minor edits, with permission.
What is the anticipated timeline for Golden Gate Fields park?
The project is expected to proceed in phases:
- 2026: Fundraising efforts conducted by TPL to secure resources needed to purchase property.
- Spring 2027: The transaction is expected to close and ownership would transfer to the Park District.
- 2027–2029: Robust public process to engage the community in planning on the site, and understanding the relationship of the park to surrounding communities.
- Beyond 2029: Park development would occur in phases as funding becomes available.
Are there environmental issues or remediation needs?
Environmental stewardship and any necessary investigation or remediation would be addressed during the park planning and development process through applicable regulatory requirements and oversight led by the Park District following acquisition.
Will housing or commercial development be built on the Golden Gate Fields site? Has housing been considered?
TPL, the Park District and our partners are acquiring this site to create a public park that is expected to include habitat restoration, recreational amenities and compatible uses, providing an incredible resource that will be highly accessible to current and new Bay Area residents. This effort is consistent with current zoning in Albany and Berkeley that is informed by extensive community input. The site is not zoned for housing in Berkeley or Albany. A more specific vision for the site will emerge through a robust community planning process, and will be influenced by any restrictions imposed by public funding sources used for the purchase of the property.
How and when will the public be involved?
Public engagement will begin following acquisition and will be led by the Park District, in partnership with the Cities of Albany and Berkeley and other key stakeholders. Community input will help shape restoration priorities, recreational uses, access points, and connections to surrounding neighborhoods and regional trails.
Will the site be open to the public immediately?
Following acquisition, the site will be secured for safety. The Bay Trail will remain open, and public access is expected to expand over time as safety improvements, restoration work, and infrastructure are completed.
Will the Bay Trail or existing shoreline access be affected?
The San Francisco Bay Trail will remain open. One of the goals of acquiring the site is to improve and enhance public shoreline access over time, including strengthening Bay Trail connections and improving safety and accessibility where feasible.
What is being proposed at the Golden Gate Fields site?
Trust for Public Land (TPL), in partnership with the East Bay Regional Park District (the Park District), is seeking to acquire the Golden Gate Fields property and transform it into a public park and shoreline open space. The site would provide for significantly expanded public access to San Francisco Bay and a major new regional park with open space along the East Bay shoreline.
Where is the Golden Gate Fields property located?
The approximately 162‑acre property spans the cities of Albany and Berkeley, with the majority located in Albany and roughly 40 acres in Berkeley. The site sits adjacent to the Albany Bulb and other nearby open spaces, helping create a contiguous stretch of publicly accessible shoreline.
Who owns the Golden Gate Fields property?
The Stronach Group has owned the property since 1999 and operated it as a horse racing facility until its closure in June 2024.
What agreement has been reached?
In February 2026, Trust for Public Land entered into an option agreement granting the exclusive right to purchase the property for the purpose of creating a public park, habitat recreation, and other compatible uses.
Why is the acquisition happening now?
Trust for Public Land has secured a time‑limited option to purchase the site from the site’s owner in order to preserve it for public use and Bay access.
Who will own and steward the site, and maintain it, if it is acquired?
If the property is purchased, ownership will transfer to the Park District, which will serve as the long‑term owner and steward of the site. Long‑term stewardship, maintenance, and programming would be guided by the Park District and informed by community input.
What roles do the Trust for Public Land and East Bay Regional Park District play?
Trust for Public Land is leading the acquisition effort and fundraising. The Park District will own, manage, and steward the site and will lead future planning, environmental stewardship, community engagement, and park development following acquisition.
What roles do Albany and Berkeley play?
The cities of Albany or Berkeley will be key partners in the community planning process following acquisition of the site. The site spans both cities, with the majority of acreage in the city of Albany.
What is the appraised value of the property?
The purchase price is $175 million and includes removal of existing above‑ground structures.
How will the Golden Gate Fields site purchase be funded?
TPL and the Park District are working together to assemble a funding package of public and philanthropic sources to support the acquisition. This includes $20 million from voter‑approved Measure WW allocated by the Park District, as well as potential state and regional funding sources.
How will residents and stakeholders be informed?
Trust for Public Land and the Park District are committed to transparent communication. Updates will be shared through public meetings, outreach efforts, a dedicated webpage, and other online and in-person resources as the project moves through acquisition, planning, and development phases.
How are Native American tribes being engaged?
The site is within the ancestral lands of East Bay Ohlone, Bay Miwok, and Northern Valley Yokuts peoples. TPL and the Park District are consulting with affiliated Tribes, including the Confederated Villages of Lisjan/Ohlone, the Ohlone Indian Tribe, and the Muwekma Ohlone Tribe, and will continue consultation through planning and implementation.
Why is this opportunity significant?
The acquisition and transformation of Golden Gate Fields presents a rare opportunity to create a shoreline park that increases Bay access, improves shoreline and wetland conditions to better support natural ecosystems, and supports climate resilience for generations to come. The effort builds on decades of community interest in expanding public open space along the waterfront and reflects the long‑standing vision for greater shoreline access and environmental stewardship.
The Park District has expressed interest in acquiring this property for decades. In 2008, voters approved setting aside $20 million in bond funding through Measure WW, and the District later identified acquisition of the site as a goal in its 2013 Master Plan.
