The bayfront property that was home for more than eight decades to the horse racing track Golden Gate Fields could be transformed into a huge new public park under a deal announced Tuesday.

Nearly two years after the track closed in 2024, the San Francisco-based Trust for Public Land says it has reached an agreement to buy the 161-acre site that straddles the Berkeley-Albany border and transfer it to the East Bay Regional Park District, creating the newest piece of a line of parks that stretches along the bay’s eastern shore from Richmond to Oakland.

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