(AUBURN) - Plans for a proposed motorsports facility in DeKalb County remain on hold as developers work through a land acquisition issue.
Inside Indiana Business reports Chuck Surack, founder and chairman of Sweetwater Sound, still hopes to move forward with a racetrack project near Interstate 69 and County Road 11A in Auburn.
Surack said the development would represent an investment of more than $250 million and is being planned in partnership with local entrepreneurs Bill Bean and Tom Kelley, owners of Summit Motorsports Club.
Plans call for a facility on approximately 300 acres at the former Kruse auction park site. The proposal includes a three-and-a-quarter-mile road course designed to accommodate high-performance vehicles and driver training.
Surack said the first phase of the project would cost about $100 million and take just under two years to complete. Future phases over the next decade could include a hotel, condominiums and additional development.
Inside Indiana Business reports Surack said he still hopes to break ground this year, but the project is temporarily paused because of issues involving the current property owner.