700-Unit Albany-Saratoga Speedway Development Stalled By Malta Town Board

MALTA — Plans for a 700-unit development that would replace the Albany-Saratoga Speedway in Malta were derailed on Monday night when the Town Board decided not to move forward with a public workshop that would include further discussion of the project. The board held a vote on the matter, with two members voting “yes,” two voting “no,” and one abstaining.

“I’m concerned we’re missing out on an opportunity but that’s the rule of the board,” said Town Supervisor Cynthia Young, who voted “yes.”

Members of the board, along with a number of residents who spoke during the public comment period, were skeptical of the project due to its size and potential impact on traffic along Route 9. Some, both at the meeting and in local Facebook groups, have also lamented the loss of the speedway, which will celebrate its 60th anniversary next year.

The speedway’s current owner, Howard Commander, said via a real estate agent who spoke at the December 2 town board meeting on his behalf, that he “fully” supported the proposed project. Commander decided to sell the speedway due, in part, to the financial challenges of maintaining and operating the track.

Sumeet Gupta of Five Corners Development laid out the broad strokes of his proposed development, Camber Ridge Malta, in a ten-minute presentation. He said he was approached by a broker hired by Commander, who had been trying to sell the land for years. 

“Over the last four or five months, we’ve spent a considerable amount of time going out to the community and getting feedback from as many people as possible,” Gupta said. “We’re not done with being in front of the community and making sure their feedback is heard, which is a critical part of our process.”

Gupta said the development would incorporate the need for a strict workforce housing program, senior housing, retail amenities, and community benefits (which could include things like a pool and splash pad, a year-round community center for seniors, walking trails, and a daycare center). Proposed rents for the development would range from $1,326/month for a 1-bedroom unit to $1,838/month for 3 bedrooms; prices which are below current market rates.

The Albany-Saratoga Speedway sits on a 50-acre parcel along Route 9 North in Malta. The track originally opened in 1965 and features racing on Friday nights from April through September. Racing is still set to occur at the track in 2025, though the speedway’s future is uncertain after that.

A prior, unplanned presentation outlining the proposed Camber Ridge development at a Malta Town Board meeting in June was met with resistance, prompting meeting attendees to call the presentation “totally inappropriate” and “absolutely ridiculous.” The presentation had interrupted many Malta residents who wanted to speak about a proposed State Police barracks in the town’s Luther Forest neighborhood.