MORRISON, Colo. (KDVR) — The Bandimere family announced in a YouTube video Friday that it will be shutting down after the end of the drag racing season this year.

The race track has been open since 1958 in the location at the base of Hogback Mountain under the ownership of the Bandimere family for its entirety.

John Bandemere Jr. posted the video explaining the roots of the speedway and how his parents built it with the intention of allowing people to utilize and appreciate the speed and performance of the automobile, he said.

The drag racing season ends in October and that will be the last use of the speedway, Bandemere said. He cited the surrounding development over the years as part of the reason for surrendering the property.

“Knowing that continued growth in the Rooney Valley would likely impact the future of our present location, our family has been proactive over the past several years in an effort to locate another possible location where a new facility can be established,” Bandimere said. “Much the same as in 1956, the opportunity for developing and operating a multi-use facility with drag racing as its primary focus provides an exciting possibility for our family – one that will also provide the potential to make a meaningful contribution to the community, wherever it may be.”