Bay Meadows Information

Bay Meadows Land Company (BMLC), headquartered in San Mateo, California, owns four separate land parcels at Bay Meadows totaling approximately 100 acres. In addition to the 7-acre mixed-use project known as Park Place at Bay Meadows, BMLC owns the 83-acre Racetrack, a 4.3 acre undeveloped land parcel along Franklin Parkway and a 2.2 acre parcel along Saratoga Drive. The 4.3 acre parcel is fully entitled for a 310-room luxury hotel and the 2.2-acre parcel is currently under contract for sale to the City of San Mateo for use as the City's new police station. The principals of BMLC have been involved in all aspects of entitlement, design, construction and operation of these four parcels at Bay Meadows since 1997, when their former employers, PaineWebber Incorporated, purchased 173 acres at Bay Meadows. When PaineWebber was subsequently purchased by UBS Warburg in 2000, the existing principals of BMLC managed the asset for UBS directly. BMLC separated from UBS in 2003, acquiring ownership of the four Bay Meadows parcels in April 2003. BMLC is currently managed by the former UBS and PaineWebber employees who have been active in Bay Meadows since 1997. BMLC is now owned by a private partnership backed by public pension funds and institutions. In addition to the management and development of Park Place at Bay Meadows, Bay Meadows Land Company has spent the past several years working with the City of San Mateo toward the redevelopment of the 83-acre Racetrack. The redevelopment of the Racetrack has been studied as part of a greater community planning process and a multi-year effort led by community members which analyzes the areas surrounding the CalTrain corridor. A Draft Environmental Impact Report (DEIR), which thoroughly analyzes possible environmental issues and mitigations associated with the redevelopment of these areas, is now available for public review.