When Canterbury Downs opened in 1985, just 15 months after construction commenced on the 390-acre site, Kraus-Anderson was at the finish line, 3 days ahead of schedule. Now, 30 years later, Kraus-Anderson Realty is returning to Canterbury Park to create further development on the site.
Canterbury Park Holding Corporation is entering into a development agreement with Kraus-Anderson Realty for mixed-use development on the site, to include retail, restaurants, entertainment, hospitality and multi-family housing. Canterbury Park Holding Corporation owns and operates Canterbury Park Racetrack and Card Casino, Minnesota’s only thoroughbred and quarter horse racing facility.
“We have stated for many years our goal of developing a destination lifestyle retail and entertainment center adjacent to our Racetrack and Card Casino,” said Randy Sampson, Canterbury Park President and CEO. “We are very pleased to have the opportunity to work toward that goal with Kraus-Anderson, a great construction and real estate development company that has considerable experience with similar mixed-use projects.”
Since constructing the racetrack in 1985, Kraus-Anderson has returned for several successful construction projects on the site.
“Our familiarity with KA and their knowledge of Canterbury Park provides a great starting point for this expanded relationship,” Sampson said.
“Canterbury Park has established itself as not only a first class racetrack, but also a year-round entertainment destination,” said Mike Korsh, vice president and director of real estate at Kraus-Anderson Realty. They have a great location in Shakopee, a community that is experiencing tremendous growth both in population and jobs. We are excited to have the opportunity to explore these development opportunities with Canterbury Park.”