Woodbine Entertainment Group and Trinity Development Group enter into MOU
February 24th, 2016
TORONTO, February 16, 2016. – Woodbine Entertainment Group (WEG) and Trinity Development Group Inc. (Trinity) today announced the companies have signed a Memorandum of Understanding (MOU) for the purpose of developing an integrated entertainment venue at Woodbine Racetrack.
The WEG-Trinity proposal calls for an entertainment venue of approximately 165,000 square feet and seating for up to 5,000 patrons. It would reside adjacent to the current Woodbine Racetrack facility and occupy three to four acres of the Woodbine property. The collaboration is the next step in WEG’s property development vision of an integrated district with multiple forms of gaming, entertainment and horse racing.
“This is an exciting day for Woodbine Entertainment Group and the city of Toronto,” said Jim Lawson, CEO of WEG. “To partner with a trusted, well-respected property development company like Trinity allows the citizens of Toronto, and frankly the entire province, to start to see the possibilities of what we can develop on one of the most attractive pieces of real estate in the GTA.”
Together WEG and Trinity will conduct a procurement process to bring in a world class third party entertainment company to be the manager and operator of the venue. The venue is expected to be used for live performances (i.e. music, theatre, dance) and other forms of live entertainment.
“Trinity Development Group is looking forward to working with an iconic brand like Woodbine Entertainment Group to develop a portion of the 680 acres of prime land on the Woodbine Racetrack property,” said John Ruddy, Executive Chairman of Trinity. “Trinity has a deep history in developing real estate of this quality in high profile locations.”
Trinity is responsible for the redevelopment of Lansdowne Park in Ottawa. After a revitalization project that opened in November of 2014, Lansdowne is a hotbed for businesses and restaurants that drew 1.5 million visitors in its first year of operations.
About Woodbine Entertainment Group (www.woodbineentertainment.com).
With roots dating back to 1881, Woodbine Entertainment Group is the largest horse racing operator in Canada, showcasing world-renowned horse racing at Woodbine Racetrack (Toronto), home of the iconic Queen’s Plate, and Mohawk Racetrack (Milton), host of the storied Pepsi North America Cup. WEG is the leading member of the Standardbred Alliance and the single operator of Teletheatres and Account Wagering, available through www.HPIbet.com, in Ontario. WEG also operates HPItv, a CRTC licensed digital television channel that broadcasts racing into homes across Canada.
Trinity Development Group Inc.
Since inception in 1991, Trinity has become a leading real estate developer in Canada. Trinity has developed, or is actively developing over 25 million square feet of shopping centres and mixed use developments throughout Canada. Trinity has extensive expertise in both large retail projects and mixed-use developments. In recent years, Trinity has refocused its strategic direction to include large, mixed-use developments. In Ottawa, Trinity in partnership with the Ottawa Sports and Entertainment Group developed Lansdowne Park and TD Place, the Nation’s Capital exciting new urban sports and entertainment destination featuring a spectacular 24,000 seat outdoor stadium and newly refurbished 10,000 seat indoor arena. TD Place is the home to the Ottawa REDBLACKS of the CFL, the NASL’s Ottawa Fury FC and the Ottawa 67’s of the OHL. It hosts concerts and performances by industry-leading acts and entertainers year round. It includes restaurants, movie theatres, shops, services, office and residential, creating the exciting all-new Lansdowne community. In Calgary, their Trinity Hills development adjacent to the Canadian Olympic Park lands will provide a business campus, various residential formats, entertainment and retail uses. Further information on Trinity’s projects may be found on its website (www.trinity-group.com).
About BBB Architects:
The internationally renowned firm of BBB Architects has been chosen to design the masterplan and buildings for the Woodbine-Trinity retail/entertainment complex. Partner Brian Brisbin, in creating this design, states “it will be the most provocative performance venue in Canada, anchoring a new regional retail/entertainment destination while giving exposure to a new audience for horse racing.” With offices in Toronto and New York, the firm’s projects include Madison Square Garden in New York, the L.A. Forum in Los Angeles as well as the largest retail/entertainment project in Europe, the Moscow City Center. Further details about BBB’s projects are available at www.bbb.ca.
Source: Woodbine Entertainment Group, February 16, 2016.