Redevelopment at Newport Raceway to Fun site stalls
Redevelopment at the former Raceway to Fun site may be stalled as current site owner Scannell Properties continues marketing efforts for proposed warehouse and office buildings.
The company requested a two-year extension to their conditional use permit from the city, which expires in February without the extension. The city council passed the extension for one year, "to keep them active," council member Bill Sumner said.
When their permit was first approved last February, they hoped to start on construction last summer.
Daniel Madrigal of Scannell Properties said the plan to construct two mixed-use office and warehouse buildings of 144,000 square feet and 83,000 square feet remains the same as when they made the purchase last June.
Scannell has been actively marketing the site to a variety of prospective tenants, but have not yet made any deals.
"We will continue to market the site as we consider our options to either move forward with a speculative development or continue to wait for the right user," Madrigal said. Demolition at the site is complete. Development could begin in a matter of months.
"We remain optimistic that we will be in a position to move forward with developing at least one of the two prospective buildings in the spring," Madrigal said.
Scannell was charged a $500 fee for the extension.