We may be able to hear the roar of NASCAR as early as 2014 based on the decision this Monday which saw the Ontario Municipal Board reject all appeals against the proposed Canadian Motor Speedway complex setting things in motion for construction to start on the $400 million facility.
With over 332 hectares of farmland already purchased, construction is expected to take 18 months wrapping up in mid 2014. Studies suggest once completed, the complex will create 1200 new jobs along with providing an annual tax impact of $34 Million per year to the struggling Niagara Region. It’s believed the major investors making up the consortium are from Kuwait and the UAE.
Located in Fort Erie near the Peace Bridge, the proposed complex will attempt to attract NASCAR stock car racing, open wheel racing including Formula 1 and IndyCar, motorcycle racing and other motorsports series. In addition, there is a planned auto research facility that will be affiliated with Hamilton’s McMaster University.
As for the features of the complex, current plans include 65,000 seats, 5,000 club seats, and 80 suites while four-time NASCAR champion Jeff Gordon is designing the 1.6 kilometre banked oval track and a 4.2 kilometre road course. The road course would be the largest paved track in Canada. For more information, check out the Canadian Motor Speedway official site.
Sources: Toronto Star, Globe and Mail and Toronto Sun.