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New motor sports park to cost $250 million

(Twitter Photo)

PHOENIX — A Phoenix-area company recently announced plans to construct a large motor sports park which is expected to cost $250 million.

According to the Phoenix Business Journal, Chandler-based Danrick Builders estimated that the first phase of construction alone will cost $250 million.

About $80 million from the first phase estimate will go towards building and acquiring the land for a resort hotel and conference center near the sports park.

The park will be built in multiple phases, the first phase being the Motorsports Technology Core.

Costs for the first endeavor will include a public race circuit, a private race circuit, multi-use areas for events such as rodeos and off-roading, a space for concert and festivals,  a driver training center and a water treatment facility.

The sports park will also have an estimated 19,000 parking spaces including a campground area for RVs.

The group is still waiting for full approval from the city and Pinal County and is not yet actively seeking investors.