Golden Gate Fields is closed. What’s next for this bayside property?

The final race has crossed the finish line at Golden Gate Fields, setting the stage for the next contest: development of the 140-acre bayside property with panoramic views of San Francisco Bay.

Should the site become housing? A park? A hotel?

Nobody knows what comes next, but any proposals to develop the prime bayfront property are sure to generate controversy and, quite possibly, an election to decide the issue in Albany. 

Complicating the situation is that Berkeley and Albany share jurisdiction over the expansive track property that sits between Interstate 80 and the bay, bordered by Gilman and Buchanan streets — and both municipalities have broad land-use plans that favor recreation like parks and possible lodging including a hostel or a hotel. The track, grandstand and large parking lots reside in Albany while the backstretch, the stables and track worker housing sit in Berkeley.

But the owner of the land, Canada’s Stronach Group, which runs 1/ST Racing, still owns the property and could drive its future development.

Tiffani Steer, a spokesperson for 1/ST, said the company has no current plans for development of the site, though an auction of various track equipment is scheduled for Aug. 1.

“We continue to evaluate various alternatives for the future of the property to determine how best to move forward,” she said. 

Golden Gate Fields sits between two pieces of McLaughlin Eastshore State Park in each city with the Albany Bulb and Beach on one end and the Tom Bates Regional Sports Complex on the other. Incorporating the track into the parkland is a popular option among local residents.

Albany’s general plan, as well as an extensive community outreach effort in 2010, identified the Golden Gate Fields site as best suited for parkland — with recreational uses including boating, restaurants and bars and other waterfront sports. The Voices to Vision community report from that time period suggested keeping the vast majority of the 102 acres in Albany for creation of a park with a small amount set aside for commercial and nonprofit development, possibly including a hotel of 100-300 rooms.

Berkeley’s waterfront master plan, adopted in 1986, supports similar uses, including a park. But it would also allow a hostel, a hotel of up to 250 rooms and associated restaurants and bars.

While Berkeley’s City Council could approve other uses — including housing, offices or extensive retail development — that can’t happen in Albany without approval from a majority of voters, thanks to a 1990 initiative. Measure C restricts the waterfront land to water-oriented uses, open space, parks and recreation and associated uses including commercial recreation businesses and restaurants and bars. Anything else requires voter approval.

Robert Cheasty, executive director of Citizens for East Shore Parks and a former Albany mayor, said incorporating the Golden Gate Fields property into McLaughlin Eastshore State Park is the only reasonable future use, given its location and the inevitable impact of sea level rise.

“There are great organizations that will be willing to purchase the property and complete the park — and that’s what should happen,” he said. “Anything else, people will fight to stop it.”

Brennen Brown, an Albany spokesperson, said the city has been in contact with Stronach, plans to engage with its citizens and intends “to work collaboratively with a variety of agencies regarding this regional asset, including partnership with the city of Berkeley.” Berkeley spokesperson Matthai Chakko said the city staff has had informal discussions about the site but isn’t aware of any development proposals.

Reach Michael Cabanatuan: mcabanatuan@sfchronicle.com; Twitter: @ctuan