Now that Daytona International Speedway’s $400 million frontstretch renovation is complete, track owner International Speedway Corp. is turning its attention to improving other aging facilities in its 12-track portfolio.
First up on that list will be Phoenix International Raceway and Richmond International Raceway, according to Lesa France Kennedy, chairwoman and CEO of ISC.
Kennedy revealed the news at NASCAR’s media tour in January, though she said ISC isn’t yet ready to share details of the projects. But since then she added that Richmond “is an interesting market for us right now. The track has a lot to offer but, also with that surrounding area particularly, I think we can provide some ideas and added guest experiences. And then there’s also Phoenix. Phoenix is a fantastic sports market. That track in particular has a great personality on its own. And I think with some changes there and some improvements, the Phoenix track can be a real desert jewel.”
Richmond has been plagued by bad weather in recent years that has resulted in lackluster attendance. The track recently announced plans to remove its backstretch seating, which held 9,000 people, reducing the track’s capacity to around 60,000. That area is thus primed for redevelopment.
Phoenix, meanwhile, is looking at renovating around Turns 1 and 2, a source said, because its frontstretch around the start/finish line is limited by the road that runs outside the facility.
Richmond is consulting with architectural firm HOK on potential redevelopment, sources said, although it was unclear if Phoenix is working with anyone.
Richmond area media reported last year that Richmond International had held exploratory talks with minor league baseball team the Richmond Flying Squirrels, of the Class AA Eastern League, about building a new ballpark on the track’s property. While nothing further has come from those talks, Kennedy said that in general ISC will evaluate adding mixed-use development to any track it is renovating these days.
“We’re finding out as we improve these properties — and we started out with Kansas [Speedway] when we built the track from the ground up — that there’s a lot of ancillary development that goes on around it,” Kennedy said. “So we don’t have specific plans, but I know as there’s demand within the community and especially surrounding our tracks, we’ll always take a look at that and see if there are opportunities for us.”
How much ISC will spend to upgrade Phoenix and Richmond was unclear, but sources said the projects are expected to cost markedly less than the $400 million spent on Daytona. ISC’s five-year capital-expenditure plan from 2013 to 2017 allowed for funds not to exceed $600 million during that time period.
