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MINNEAPOLIS-The International Motorsports Entertainment and Development Corp. has plans to bring a $500 million motorsports complex to Minnesota and has recently pegged a 585-acre site in Arden Hills for the project. According to a report in the Minneapolis/St. Paul Business Journal, the company is interested in the former Twin Cities Army Ammunition Plant.

The IMEDC wants to build a 2.5-mile road course, a one-mile track for Indy-style racing and a 100,000-square-foot exhibition center. The track could hold up to 60,000 people and could be enlarged later if needed.

There is also talk of the development including retail and office space as well as lodging and restaurants. But the specifics of that aspect has not been outlined yet.

NorthMarq Real Estate Services is acting as the group’s broker. M.A. Mortenson Co. has been tapped to be the general contractor on the project, and Baskervill will be the track-designing architect.

The project still needs to be approved by city officials.

The Arden Hills spot became available after the Ryan Cos. US Inc. backed away from a planned mixed-use project.

To read the full Minneapolis/St. Paul Business Journal, click here.

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