Gatlin Development Co. Inc. plans a $250 million mixed-use development called Grand Cypress at the former greyhound racetrack and poker room site in St. Johns County after buying the nearly 100-acre property last week for $16.5 million.
WJCT News partner theJacksonville Daily Record reported Gatlin purchased the land at 6256 and 6322 Race Track Road on May 26, according to deeds recorded May 28 with the St. Johns County Clerk of Court.
The site is at southwest U.S. 1 and Race Track Road.
The seller was Bayard Raceways Inc.
The racetrack and poker room closed in 2012. Gatlin plans to demolish the existing structure.
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