What’s next for Freehold Raceway Park after 171 years of racing

FREEHOLD BOROUGH— A New Jersey developer has purchased the landmark Raceway Park property, with early plans for mixed use that does not involve horse racing.

Raceway RE Partners said on Wednesday that it has bought a cumulative 58-acre parcel in Freehold, though a price was not publicly disclosed.

The iconic property is about a mile across Route 9 from the unaffiliated Freehold Raceway Mall.

Freehold Raceway ended harness horse racing at the end of last year. It closed down after outlasting other tracks as the oldest in the country.

The sport has seen a steady and drastic decline in recent decades, in both attendance and wagering on the activity, harnesslink previously reported.

Read More: Mayor holds out hope for racing future at Freehold Raceway

NJ developer teases multi-use space at Freehold Raceway Park

The early vision for the site includes “beautifully integrated” multi-use space including retail, dining and a boutique hotel and social club.

"This land holds generations of memories—an incredible 171 years of horse racing took place here—and we intend to honor that legacy while introducing a vibrant, exciting, and forward-thinking destination for all," Jake Lebowitz of Raceway RE Partners said in a written release.

Land linked to Freehold Raceway track is in borough and township

FR Park Racing, the company that owned Freehold Raceway, was listed in online tax records as owning 10 different lots in Freehold Borough — three along Park Avenue, three along Ann Street, two along Manalapan Avenue and two along West Main Street.

The largest lot is 27 acres along Park Avenue.

Additionally, the same company has owned two parcels of land in neighboring Freehold Township, along Route 9 and at 50 Trotters Way.

The new plans would be “designed around walkability, family experience, and long-term community benefit,” the developer also said.

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