Groundbreaking Set for Magna's Palm Meadows

Magna Entertainment Corp. will break ground Oct. 30 on Palm Meadows, a major training facility to be located in west of Boynton Beach, Fla., about 47 miles from the company's Gulfstream Park.

Palm Meadows will have stabling for up to 1,900 horses and air-conditioned housing accommodations for backstretch employees. The first phase of construction -- 640 stalls -- is expected to be completed by fall of 2002.

"The state-of-the-art training facility will significantly elevate the quality of racing at Gulfstream," said Scott Savin, president of Gulfstream. "Palm Meadows will be good for racing and the Florida economy."

The facility will have an annual economic impact of more than $50 million, according to an analysis by Thalheimer Research Associates for Lexington. The facility could create more than 2,000 jobs.

"We are delighted with the success of Gulfstream Park and look forward to growing our Florida-based operations," Magna Entertainment chairman Frank Stronach. "The training center is a major step in this process."

Palm Meadows will have a 1 1/8-mile surface consisting of 85.5% sand and 14.5% clay. There will be an inner dirt track inside a one-mile turf course. Palm Meadows will have an on-site, self-contained waste-treatment facility that will eliminate the need to transport manure and refuse from the grounds.