The public hearing will change the site's zoning code to accommodate a planned shopping center, entertainment stage, central plaza and dining courtyard, which The Pasadena Star-News reports could generate thousands of jobs.
The track opened back in 1999 and played host to a number of races in NASCAR development leagues, like the K&N Pro Series and Whelen All-American Series, as well as Formula Drift and Global Rallycross. Things well and truly turned south for the track when Irwindale Outlet Partners, LLC, the developer behind the outlet mall program, bought the track for $22 million in September 2013, The Star-News reports. The track's previous owners filed for bankruptcy in February 2012.
According to the paper, IOP extended the lease with the track's operator on a year-by-year basis, which it will continue to do until the new space has 65 percent of its total tenants. Construction could begin as early as January, although a firm date has not been set.