Is your favorite track a potential land development site?

[dylbert]

Discussions abound that as horse racing continues its decline as industry that more racetracks become potential land development opportunities. I would like to hear assessments of venues around the country.

I will start by offering my opinion about each of the four racetracks that operate here in Louisiana.

Fair Grounds: surrounding neighborhood would strongly suggests that FG is not residential or mixed commercial/residential play. Addition of slots further diversified site use. Home of New Orleans Jazz & Heritage Fest.

Louisiana Downs: large tract at intersection of I20/I220/US80. Nearby flooding in 2009 exposed possible seriously flaw there. Development of large upscale mixed comm/res project within two miles has probably diminished value of LaD as prime location. Racino must compete with five other casinos that feature table games.

Evangeline Downs: moved from Lafayette to Opelousas when local citizens voted video poker's cessation. Current site specifically developed for racino with proximity to I49 & US190.

Delta Downs: if you ever traveled to Vinton to visit DeD, you know you are in the middle of nowhere! Several miles from I10, this site would appear to have no potental for redevelopment as residential, commercial, or industrial real estate.

I look forward to others sharing their thoughts & opinions here. In closing, I will share what my college real estate professor stressed, "land will always go to its highest and best use."