On Tuesday (November 21), officials with Canterbury Park in Minnesota unveiled preliminary plans that call for a redevelopment of the track’s property that would attract $300 - $400 million in private investment in the project.

According to an article by the Shakopee Valley News, the officials made a presentation to Shakopee City Council which outlined that the proposal covers four themes: live, stay, work, and play.

The ‘live’ component would include the introduction of an apartment complex, upscale townhouses, and a housing co-op portion designated for those ages 55 and up. The ‘stay’ aspect of the project would include different types of hotels. The ‘work’ portion includes office space to attract business to the location. In terms of ‘play,’ then plan calls for restaurants, retail, a water park, and areas geared toward families and community gatherings.

“I think this is a great opportunity for Shakopee and I think it’s a tremendous opportunity for Canterbury,” Mayor Bill Mars was quoted as saying.

(With files from the Shakopee Valley News)