COLLEGE STATION - Texas World Speedway will shut down in mid-June to make way for a multimillion dollar housing development.
CEO Bill Mather is the housing developer who will convert the 400-acre speedway into what will be known as the Southern Point community.
The $55 million development will be constructed in five phases to include 1,400 homes, a commercial development, nature trails and space for a new elementary school.
The development will be the first municipal utility district, or MUD, in College Station.
Mather hopes to break ground shortly after the track closes in mid-June with the first homeowner possibly moving in by summer 2016.
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