A developer plans on building a residential and retail complex

For nearly 60 years racing fans have descended on Albany-Saratoga Speedway (formerly Malta Speedway), to enjoy dirt car racing. For thousands its a Friday night destination every summer. However, it sounds like that tradition may be coming to an end. 

According to News 10, the property for the speedway is now under contract to Five Corners Development based out of Saratoga. The firm says it plans to build a housing and retail complex called 'Camber Ridge'. Five Corners founder Sumeet Gupta talked about the company's vision:

Five Corners Development is thrilled to play a part in the continued responsible growth in Malta and Saratoga County. Even in these early stages of the development, we have been in discussions with interested tenants such as daycare centers, restaurateurs, and widely renowned Fiden’s Brewing.

Plans for the new complex were submitted to the Malta Town Board on Monday and will likely take months to review. 

As for Albany-Saratoga Speedway, the 2024 season would continue and there would likely be races in 2025, which would be the tracks final year.