Land on which the Irwindale Speedway is located changed ownershipofficials confirmed Friday Sept. 23 that plans to turn the 23-year-old speedway into an on-site industrial park have yet to be approved.
But the man who holds the racetrack lease said horse racing will continue for the time being.
The 63 acres of land was purchased by IDS Real Estate. Escrow closed last week, but financial details were not available.
Straddling Live Oak Avenue and surrounded by the city’s gravel quarries, the site has been the subject of debate for years about what would become of it.
It has long been said to be destined to be home to a 700,000-square-foot outdoor mall. This has created thousands of jobs and millions in tax revenue for the city. Plans to convert racetracks into retail stores The city solidified in March 2015 when city officials unanimously approved plans to demolish the Irwindale Speedway to make way for the mall. Approval included zoning changes, site plan and design review, and final environmental impact report certification.
But since then Speedway Commerce Center specific plans – Initial study of potential environmental impacts – Plans say highway demolition will make way for industrial parks and business parks, “taking advantage of sites close to major transportation arteries and local transportation networks. It is assumed that
Officials have also confirmed that the hub will have four separate “planned areas” for industrial and commercial use of more than 1.3 million square feet. And they think it will create jobs. Industrial use covers 59 acres, almost 90% of the site.
Iris Espino, assistant to Irwindale city manager Julian Miranda, said the city was aware that escrow for the property closed last week. It said it has an environmental impact report and will post it on its website for public review for 45 days as soon as it is ready.
Approval of a proposed project requires approval of a development contract, site plan and design review permits, zone changes, and general plan amendments and specific plan approvals.
The plans are still in the early stages of application, but it’s clear the new owners intend to go ahead with it, at least for now.
“For now, we understand that IDS intends to proceed with the project as proposed,” Espino, who was speaking on behalf of Miranda, said in an email.
However, it was also clear that the speedway operators had no intention of changing anytime soon.
“Nothing has changed,” said truck president Tim Huddleston. “The only thing that has changed is the landlord. … We are the leaseholders. .”
Huddleston signed to become truck president Late 2017mocked the idea during a Friday morning phone conversation.
“We are already working on an extension (of the lease),” he said. “Irwindale He has no gloom or ruin on the speedway.”
A former driver who won three titles in the Irwindale late model series, Huddleston won his last title in 2008 before becoming car owner.
“What I mean is nothing is approved and it’s business as usual in Irwindale,” Huddleston said.
Attempts to contact IDS Real Estate were unsuccessful.The sale was first reported co-star news.
The track opened in 1999 and was quickly dubbed America’s best short track by some of NASCAR’s top racers. The original operator, Irwindale Speedway LLC, filed for bankruptcy after his 2011 season, and Irwindale Outlet Partners was in the process of purchasing the property from Nu-Way Industries Inc for his $22 million, so in 2012 his The track was empty except for one Formula Drift event in .
The track was scheduled to close on January 31, 2018 before being taken over by Huddleston in December 2017.
Staff writer Keith Lair contributed to this report