The Olds Agricultural Society recently discussed big plans for a new project in Alberta, which includes the development of a new racetrack, during a Mountain View County policies and priorities committee meeting last week
.
According to an article in the Mountain View Gazette, the Olds Agricultural Society’s plans for Gateway Centre at Highway 2 and 27 include relocating the Olds facility and adding a 100-room hotel, restaurant, convention centre, racetrack and 120-slot casino.
“Our data shows there is not enough hotel space in Olds,” said Reid Lillico, Commonwealth’s chief operating officer, adding that the racetrack and casino “would attract a different type of customer.”
With core financing in place and the sale of 65 acres within Olds, the group is aiming to have a construction timeline complete by June.
“That timeline would run no more than three years and more likely one-and-a-half to two years to complete the process,” said Lillico.
The Ag Society will retain a percentage of the ownership as they form a private-public partnership business model with owners of the commercial facilities.
To read the Mountain View Gazette article in its entirety, click here.
(With files from the Mountain View Gazette)
Olds? Trust me.. Olds is
Olds? Trust me.. Olds is nowhere near Edmonton or Calgary and 50 kms from Red Deer. There is no population there. I know, I drive by on way back home to Edmonoton.
I hope that this track comes
I hope that this track comes to fruition!