Skip to comments.NY: International Speedway pays $100 million for Staten Island site
Posted on 12/16/2004 6:22:29 AM PST by SheLion
DAYTONA BEACH, Fla. (AP) -- International Speedway Corp. has paid $100 million to buy land in Staten Island to build a New York City track.
The company, which owns or operates 11 of NASCAR's major tracks, hopes to build a $600 million facility on dormant industrial land. Officials said Wednesday it could represent the largest construction project the motorsports giant has undertaken, nearly triple the amount it spent to build tracks in Kansas City, Kan., and the Chicago area.
Lesa France Kennedy, president of the family-controlled ISC, said the company has to complete a feasibility study before deciding whether to build the facility. The France family also controls NASCAR, the world's premier stock car racing circuit.
``Whether we ultimately construct a track or pursue alternative options for the development of this prime New York real estate will largely depend on the results of this study,'' Kennedy said.
Speedway officials were expected to elaborate on their New York plans Thursday in a call with financial analysts.
Kennedy said the track probably could not be completed until 2009 or 2010. The parcels that were purchased by an ISC subsidiary, 380 Development, include a 450-acre waterfront tract owned by GATX Corp., and a 1-acre parcel bought from an unidentified owner.
The subsidiary also plans to spend $10 million to buy an additional 236 acres from Duke Energy in January. In all, ISC wants to acquire 660 acres, which it said would be the largest undeveloped block of land within New York City.
The land near the Goethals Bridge would house a three-quarter-mile track with 80,000 seats and a 50-acre group of nationally known stores. ICS officials said a New York developer, Related Retail Corp., will hold a minority stake in the venture.
Officials did not disclose what financial incentives they have requested from New York City and other agencies.
New York City Mayor Michael Bloomberg previously has voiced doubts about traffic jams that might be generated by the track. Neither the mayor nor city council members representing Staten Island could be reached for comment Wednesday night.
Several Staten Island political leaders, including borough President James Molinaro, have been supportive of the project, saying it would rejuvenate land that is now a defunct oil tank farm.
could not be completed until 2009 or 2010
When the union thugs insist on doing ALL the work, they better double the budget and double the time frame for completion.
Will it be the Jimmy Hoffa Memorial Race Track and Burial Ground?
Union thugs? They will get involved in this, you think?
Catchy name. heh! :)
Back in the day when a race (CanAm) was proposed for Central Park, the editorials were hysterical (and funny) and totally misinformed.
The rants will be worth a morning laugh.
France family could MANUFACTURE an artifical island off NY coast for half that price and have no problems with NOISE laws.
I'm pretty excited about it. I've been to Loudon, but because of my work schedule and working 7 days a week, it would be awesome to have a Nextel/Sprint Nextel/< insert yearly sponsorship name here> Cup track within an hour-and-a-half drive.
I don't know if anyone has seen another developer's plan to build an indoor super speedway in Plainfield, CT with hope of getting a Cup race. Very strange concept that has been struck down once by the town but he has since resubmitted addressing some of their previous concerns. Don't know how that will all work out but it is intriguing.
The only thing coming further north is the weather.
We ran a small asphalt track in northern Maine and if it wasn't windy and cold, it was raining. Can't count on a full season.
CT should be ok though. But the weather is lousy for tracks.
A year ago during lunch with a Fox network apprentice, I brought up the gaining popularity of NASCAR. She made it clear that I, being from the South, did not know what I was talking about, and she, being from the Northeast, knew that NASCAR was just a redneck sport that she and her friends liked to mock.
As John Wayne once said: "That'll be the day..."
Looks like that day has arrived, and Fox sports will be covering it.
My 7yo son and I make the rounds to 3 local short tracks during the summer (all within an hour of Hartford, try to make it to one a week). They all stagger their main races on Thurs, Fri and Saturday nights with one offering entry-level races on Wed. Essentially no mods except for a roll-bar and a fuel cell (Heckuva lot of fun for $5.00 Adults Under 12 Free!). Anyway, we probably lose two or three racing weeks a year to the rain here in southern N.E.
I'll see if I can find an article on that indoor track and post it here.
Who says the South didn't win the Civil War? :D
Staten Island, aka Sicily West, is only part of New York due to a little boat race that happened over 200 years ago. Its always been an outlier from the other four boroughs, both politically and culturally. Its a good location for a NASCAR track knowing the demographics.
Heheh! I can't remember any redneck having THAT kind of money. :)
I know the Monster Truck Shows preform in doors, but with NASCAR, I wonder what kind of an exhaust system they would have. Think about it. The fumes and the fires they sometimes have. I'm not sure about having NASCAR in doors. It would have to be a HUGE place.
PLAINFIELD PLANNERS REJECT RACE TRACK
The Westerly (RI) Sun
by The Associated Press and Sun Staff
PLAINFIELD -- NASCAR -- or any other auto racing series -- won't be coming to town anytime soon.
This northeast Connecticut town's Planning and Zoning Commission Thursday night dealt a fatal blow to plans for an indoor, 100,000-plus seat auto racetrack and convention center, rejecting a change to local zoning regulations that would have allowed the development.
Commissioners voted 3-2 against the zoning change at a special meeting attended by about 250 people.
Trumbull developer Gene Arganese -- who had initially proposed a track for North Stonington -- had pushed the $343-million plan, which included the domed racetrack, convention center, a 700-room hotel and 800,000-square-foot retail complex.
Arganese had hoped to attract NASCAR, Busch National, Indy and CART events to the New England Raceway track, along with drag races, concerts and trade shows.
Planning and Zoning Commission Chairwoman Gloria Rizer cast the deciding vote against the zone change, joining members John Dubois and John Meyer. Dennis Jolley and Ron Boisse voted for the racetrack.
Rizer said it was the hardest decision she had to make while serving on the board. She agonized for several minutes before voting.
Commission members opposed to the racetrack said the proposal would not be consistent with the town's plan of conservation and development.
Arganese looked stunned after the vote.
"We're going to regroup and see what we do next," he said. "We have other towns in mind. We have a backup location."
Arganese refused to say where the alternate site was.
First Selectman Donald Gladding supported the racetrack, saying that any increases in traffic, noise and inconvenience would have been outweighed by tax revenues, jobs and economic development. A study commissioned by Arganese said the proposal would have generated roughly $19 million in local tax revenue.
Opponents of the racetrack, who questioned the long-term job outlook and the lack of commitments from NASCAR and other major racing organizations, cheered after the vote.
"I'm just glad the Planning and Zoning Commission voted for what's best for Plainfield," said Dave Ertsgard, president of the Concerned Citizens for the Quiet Corner, one of three organized groups opposing the track. "This sends a message to any developer that while Plainfield my be a rural, sleepy town, we sleep with one eye open."
A study prepared by the Connecticut Center for Economic Analysis at the University of Connecticut predicted that the track and surrounding facilities would provide a total of 6,145 jobs at the beginning, with the numfer growing to 8,750 jobs by 2007. The survey predicted those jobs would decline to 5,910 by 2025.
Ertsgard said more than half the jobs would be construction jobs that would only last two years.
He also said the facility could only support many of the permanent jobs if it got solid commitments for big racing events, such as the NASCAR Busch Series and Indy Racing League events.
But from the start -- when Arganese first proposed his track for North Stonington -- NASCAR officials have said they had not held talks with Arganese about any specific race plans. NASCAR's season schedule, which runs from February through late November, does not have any open dates; any race that would be held in Connecticut would have to involve moving an existing race from its current site.
Here is the website set up by the developer. Not very thorough but gives you an idea of the proposal.
It's a perfect match. Both specialize in relentless turns to the left.
Oh and I bet they get a date on the Gran National Circuit right away. The track in Ky has been bringing in huge crowds and is a total success. However, can they get a date on the calendar for Grand National? No they won't even talk to them about it.
I could never imagine having a NASCAR track indoors. They may as well build a small city. Goodness! Can you imagine what would have to go into this?
I click on the link and it's Page Not Found.
That's not true.
I have attended indoor Midget Races. Midgets run V4's, open headers and racing fuel. They use coke syrup to make a racing groove on concrete.
Got a little eye burn on long races, but it wasn't bad. It was cold and snowy outside, beat watching bowling on TV!
The Brandt brothers proposed an indoor race track near the old Pittsburgh Airport. Site prep had begun, then one of the brothers died, Allegheny county then pulled the plug saying they wanted 100% of the financing in place before the permits were issued. The surviving brother told them that wasn't the way things were done and pulled out. Youngstown, Oh told him to come on up they wanted to talk to him. I haven't heard much since them. Supposedly the had everything worked out as far as noise and fumes in an indoor facility.
Here is the link http://www.brantmotorsports.com/parc/
LOL, very true......who will be next?
SheLion, thanks for the ping.....the article mentions shopping. I wonder what kind of stores they will put there? Most Nascar fans are into racing collectibles not Saks or Macy's (although I would go for that) lol
If I went to a NASCAR race, I sure wouldn't be thinking about Macy's or Saks. LOL! Let them go into NYC for that. heh!
I just can't imagine the technology that would have to go into a covered track. The fumes. The fires. I don't know. I am skeptical, WestCoastGal.
The John Gotti 500 and the Lucky Luciano 22mm.
Oldracer is involved in this project, any word on this?
Oh! I have no idea, Jersey. Is he?
Just realized he only posted once on FR, search for him "in forum" from profile page. He's the curator/owner/operator of the Weissglass raceway museum on Staten Island. The new track will be the new home of his museum if the details are worked out.
Well, that would be a feather in his cap, that's for sure.
I wish him luck with this.
However, I prefer to stay away from NY! :-)
You and me both!
I think it was a joke. Ever see a NASCAR race? Oval track...runs counterclockwise, thus cars always turn left.....
Get it now?
I take my 4 daughters to Waterford on Wednesdays. $5 aint bad!
I grew up 20 minutes from Stafford, and 30 mins from Riverside (now closed). We used to hit Westboro in MA (now closed), and sometimes Danbury (now closed). Sundays at thompson wasn't as good, but still a modified race.
My absolute favorite track is and always has been Lebanon Valley, but it's almost a 3 hour ride for me, so we don't make it too often.
I think I would rather drive to New Hampshire spedway, Dover, Pocono or Martinsville than see a NASCAR race in the armpit of the universe, NYC.
LOL! While I do not entirely disagree with that statement, out of sheer selfishness and a desire to see more Cup racing, I still wouldn't mind making one Sunday trip a year to NYC. My part-time job is a 7 day a week ordeal, early mornings, so it's very tough for me to make overnight trips. Loudon makes for a LONNNNNNNNNNNNNNNNNG day!
We usually go to the boat show at the Javitts Center and we did go to the Buddy Walk in Central Park this year so I'm getting a little more comfortable in the belly of the beast (never mind all those Yankee fans!).
RE: Waterford-a guy I grew up with drives in the Super X division in the #9 car (had a stars & stripes theme paint job). Bear in mind that we live in suburbia, they test run the car around the neighborhood around 11-midnight during the season. My son really gets a kick out of the fact that they live right up the street!
$5 for me and he gets in free is a heck of a deal for a Wed night of entertainment! I get a beer for myself, a couple sodas for him, a couple hot dogs, and a nacho. We can usually get out of there for less than $30. Not too shabby in the age of $9.50 a head movies and $5 popcorn!
When he didn't do something stupid, he usually won this summer.
Here's a pic of 75% of my daughters with the car after a win at Waterford:
Here they are at Lebanon Valley. They love the dirt tracks almost as much as I do:
We'll have to meet up next summer!
I've already got the itch. Can't wait for the Spring Sizzler at Stafford on April 24th. It's just been that much more fun now that my kid is really into it. We'll definitely have work on a Waterford run next year.
By Rob Lambert
December 17, 2004
Good day sports entertainment fans. I said in my last article that it was the last one for the year unless something happened to rate a special article. Well, it seems there are a couple of things that might affect NASCAR in the future and your enjoyment of said entertainment.
Can you say The Sprint for the Championship? Sure you can. But will there be such and animal? Who the heck knows right now?
About a year ago, when Nextel was being hailed as the greatest thing since sliced white bread, I had the audacity to suggest that it might not be the most stable platform to build your house upon. Sort of like the sand and rock, for those of you who understand this, great, for those of you who do not understand this reference -- it is in the Bible.
I believe that if you look back in my opinions, I said something to the effect that putting all your marbles in the bag of a telecommunications company was really risky business. The telecommunications industry is one of the most volatile businesses in the known world. It makes the Silly Season seem tame by comparison.
I received many scathing Emails stating that I didnt know 'Jack' about the telecommunications world. It was the greatest thing that could happen to NASCAR. I didnt tell you then that I have been involved with the telecommunications industry, along with the education field, for more years than many of you have been NASCAR fans. Sorry newbies.
Since Sprint and Nextel are seemingly headed for a shotgun wedding, perhaps you folks can step back and look at the big picture. Will Sprint/Nextel (Sextel?) be the sponsor of the playoffs? Will the new boys from Kansas decide that they dont need NASCAR? Will they decide that they dont want to drop scads of money into the France bottomless pit? Will they fire everyone in the whole Sprint/Nextel food chain? Stay tuned tomorrow for As the Racers Turn (Left).
Sprint/Nextel will be the third largest cellular company in the land. They will be looking long and hard at the various areas that the dollars they put out go. All that money going towards NASCAR will be one of the first things looked at. Will the return for the investment be considered respectable? Will it matter? Ask the 23,000 people Sprint has laid off in the recent past, including several friends of mine who had considerable time working there.
I hope that Sprint/Nextel decides to keep the France family in business for a while. It would be as hard as heck to find a big time sugar daddy company in a hurry. There arent many companies that could, or would, sponsor NASCAR on a moments notice.
The Frances might have to do like some of their teams do. You know, pay out of their pocket and chase sponsors like there is no tomorrow. But since NASCAR is always trying to beat the teams out of their sponsors, they might be able to pull it off.
Back to paying their own way, can you imagine Brian and his sister paying for NASCAR out of their five billion dollar bank accounts? You think that they might tend to come up with cost-cutting measures to try to preserve their bank accounts? What could they be? Let your imaginations run wild.
Oh well, NASCAR made it before big time sponsorship, you know back in the old days. But, then again, they had W.H.G France large and in charge, not the grandson who desires to be the number one money grubber in the racing world. Well, maybe not the biggest moneygrubber, Formula One leadership has him beaten for now.
Now, for something completely different, an old Brit comedy for those not in the loop; lets look at the racers. In keeping up with the changes in NASCAR for next year, I see that there are going to be more team cars next year.
How great is this going to be? Can you imagine the blocking and rabbits, a la Homestead, when there are only teams and team orders? What fun, lets get all the drivers and all their team members in a ring after all this blocking and such and have an over the top rope battle royal (WWE special) match after someone messes with another driver or team. Ill take the old #8 (now #15) team; they are used to such things.
Well, Sports Entertainment fans, those are my thoughts on what is, will be, and may be happening in NASCAR before Daytona. I hope that NASCAR will get everything in order before the Great American Sports Entertainment. Racing is long gone -- so why dont they just change the name.
I hope you have a great Christmas and a Happy New Year. I hope you notice that I didnt use that wimpy Happy Holidays. I hope you have a great time and not much snow; unless you are a skier, of course.
Not my first choice... but then, how much track can you put on 660 acres?
What a huge mess it would cause with the drivers if NASCAR put in their own collectibles store and took business away from souvenir alley. Maybe they could put in an ABC store and a few Quick-Marts? ;-)
< loudspeaker > Put down the credit card and back away slowly with your hands in the air... < /loudspeaker >
If memory serves, they already pulled out of NA$CAR once.
I could get Jr checks instead.
Yes they did, I think this was it in 2002.
I'm really suprised that You don't have them already.