07/27/10 Organizers of the proposed Austin Formula One auto race plan to build the track on about 900 acres near Elroy in southeastern Travis County, according to one of the major land owners involved.
Austin F1 site revealed
The organizers have called a news conference for 10 a.m. today to announce the site, a key financial backer and other details . The press event will include Tavo Hellmund, who has been working for more than two years to bring the high-profile race to Austin.
Most of the land was previously planned for a residential subdivision called Wandering Creek. It is land with rolling hills and a small lake, north of FM 812, south and west of Elroy Road and east of Texas 130.
"I'm elated and hope this all comes to fruition," Bobby Epstein, an investor in Wandering Creek, said Monday. "I'm highly optimistic that all the moving parts will come together" in time for the inaugural Austin race in 2012.
Hellmund has signed a contract with the Formula One Group to bring a U.S. Grand Prix to Austin for 10 years.
"I'm really excited about it, more as a Texan and an Austinite than a racing fan," Epstein added. "It would really make a statement for Austin. I think it's really going to be a big event for us."
The Statesman reported in June that Wandering Creek was a possible site for the racetrack.
The location of the track has been a topic of intense speculation since May, when Formula One Group CEO Bernie Ecclestone announced plans for a race in Austin.
Wandering Creek has about 650 acres, and organizers have recently secured adjacent acreage, including land with more frontage on FM 812 and small parcels with additional access to Elroy Road, according to a source close to the event who could not be identified because he was not authorized to speak ahead of today's press conference. The Statesman
Tentative Austin, Texas F1 track
On Tuesday morning a press conference will be held to announce the location of the new Austin, Texas F1 track and facilities.
To the right we can reveal the layout of the 3.75 to 4.0-mile road circuit outside of Austin. The track will feature 100 feet of elevation change.
Since KXAN first reported the story two months ago, they have worked to pinpoint the exact Formula 1 site. They already knew it would be in Travis County, on the southeast side of Austin. Then, officials narrowed it within 10 miles of the Austin-Bergstrom International Airport. Since then, their sources say, so far, the focus has been just to the east of the airport near Elroy and McAngus Roads , north of FM 812 and east of State Highway 130.
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