In reply to Slippery :
Hmmmm.
More info here: Sale of Palm Beach International Raceway hits a roadblock
From the story: "It’s not clear what will happen with the property now."
In reply to Slippery :
Hmmmm.
More info here: Sale of Palm Beach International Raceway hits a roadblock
From the story: "It’s not clear what will happen with the property now."
Higher interest rates change the math quickly on some of these development projects. Stock market drops affect access to capital as well since developers park cash in the market to act as a hedge.
bmw88rider said:It totally is about the $$. Our local country club track Harris Hill has housing being built all around it and the land value is rising rapidly. I see that as a casualty in the next 3-5 years. We lost Texas World to the same fate a while ago.
Do you know if membership dues at Harris Hill Raceway increased? Last I heard they don't do track days except for TNiA because they have enough members to sustain themselves. I know they get complaints from residents and have strict dB limits.
David S. Wallens said:In reply to Slippery :
Hmmmm.
More info here: Sale of Palm Beach International Raceway hits a roadblock
From the story: "It’s not clear what will happen with the property now."
IRG is making it perfectly clear what will happen.
In reply to racerfink :
From that article:
“We want to be clear that the future of the property remains the same: it will be developed for logistics and distribution use, with a process underway to choose a new developer,” a spokesman for IRG emailed OnGardens.org. “The track is closed and will not be reopening.”
Hmmm, at $600K an acre it is hard to justify keeping a track around from a landowner perspective.
Snowdoggie (Forum Supporter) said:...I call it Californiacation....
City councils seem to be composed of, or are supported by, developers, and their goal is seemingly to develop every square foot, and the city wants to maximize taxes. A perfect storm. Out of one side of their mouth is "get ready for water rationing", and out the other side, "put a new development here."
The real root cause of just about every problem today is overpopulation, but no one talks about that.
In reply to kb58 :
From the article below:
WPTV Article
"The company was seeking to buy the 174 acres of land along Beeline Highway in northern Palm Beach County where the raceway has existed for decades.
That plan hit a roadblock in April after the Palm Beach County Zoning Commission voted 7-0 to prohibit the raceway from being turned into an industrial park. Commissioners raised concerns about impacts on the environment and traffic safety."
Fontana Raceway is safe, the track is built on a "super fund" site and there is material in the banking that they could not move off the property.
Having the old Kaiser steel mill on the same property has been a blessing.
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