Woodbine Entertainment Group and Trinity Development Group Inc. announced Feb. 16 the companies have signed a memorandum of understanding to develop "an integrated entertainment venue" at Woodbine Racetrack.
The WEG-Trinity proposal calls for an entertainment venue of approximately 165,000 square feet and seating for up to 5,000 patrons, the release said. It would reside adjacent to the current Woodbine Racetrack facility and occupy three to four acres of the Woodbine property and is the "next step in WEG's property development vision of an integrated district with multiple forms of gaming, entertainment and horse racing."
"This is an exciting day for Woodbine Entertainment Group and the city of Toronto," said Jim Lawson, CEO of WEG. "To partner with a trusted, well-respected property development company like Trinity allows the citizens of Toronto, and frankly the entire province, to start to see the possibilities of what we can develop on one of the most attractive pieces of real estate in the GTA."
WEG and Trinity will conduct a procurement process to bring in a "world class" third party entertainment company to be the manager and operator of the venue that is expected to be used for live performances (i.e. music, theatre, dance) and other forms of live entertainment.
"Trinity Development Group is looking forward to working with an iconic brand like Woodbine Entertainment Group to develop a portion of the 680 acres of prime land on the Woodbine Racetrack property," said John Ruddy, executive chairman of Trinity. "Trinity has a deep history in developing real estate of this quality in high profile locations."
Trinity is responsible for the redevelopment of Lansdowne Park in Ottawa which, after a revitalization project that opened in November of 2014, "is a hotbed for businesses and restaurants that drew 1.5 million visitors in its first year of operations," according to the WEG release.
Rendition of the new Woodbine facility.
Courtesy of BBB Architects