California moves $125m toward turning former racetrack into waterfront park

California lawmakers are moving forward with $125 million in state funding to help purchase the former Golden Gate Fields racetrack and transform the roughly 162-acre Bay Area property into a major public waterfront park, according to reporting by Albany Scanner and San Francisco Chronicle, as well as information from the East Bay Regional Park District (EBRPD). The funding, proposed by Gov. Gavin Newsom, is part of the state budget and would come from Proposition 4, the climate bond approved by California voters in 2024. The money still requires legislative approval and must be signed by Newsom before it is secured. The proposed state contribution would be a major step toward closing the gap on a $175 million purchase that could permanently change the East Bay shoreline.From racetrack to waterfront parkGolden Gate Fields, which straddles Albany and Berkeley, operated as a horse-racing facility until it closed in June 2024.