© 2021 Maine Public
header.jpg
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Business and Economy

Potential New Owners For Scarborough Downs Plan Development

SCARBOROUGH, Maine - The potential new owners of Scarborough Downs in Maine envision a long-term redevelopment of the property that will turn it into a town center, alongside an active racetrack.
 
Scarborough-based Cross Roads Holdings went under contract to buy a large parcel of the struggling harness racetrack, and leasing the track to the current owners. The Portland Press Herald reports the management team envisions transforming the property into a town center with housing and shopping, which could take up to 30 years.
 
The track's new ownership won't impact Scarborough's current proposal to host a second headquarters for Amazon Corp.
 
According to Cross Roads Holdings, the lease agreement will allow Scarborough Downs to preserve 60 jobs.