The land that became PPIR was originally home to Pikes Peak Meadows, a dirt horse racing facility opened in 1964 some 20 miles south of Colorado Springs and 25 miles north of Pueblo. After horse racing ended at the site in 1993, California developer C.C. Myers announced plans in 1996 to transform the property into a major auto racing complex.
Construction proceeded through 1997, with the asphalt oval built approximately six feet below normal ground level. Apollo Real Estate Advisors LP formed a joint venture with Raceway Associates — a partnership headed by C.C. Myers Inc — to own and operate the 1,300-acre complex. The facility held a community open house on May 31, 1997. The inaugural race on June 8 drew an attendance of 16,810. The first Indy Racing League event at PPIR followed on June 28 and was televised nationally, with a NASCAR Winston West race held in July of that opening year.
By October 1997, PPIR had earned recognition as the fastest one-mile paved oval anywhere, a distinction that underscored the combination of its smooth surface, elevation, and flowing design.
PPIR hosted events across several major series during its active professional era:
The NASCAR Craftsman Truck Series moved its Colorado date from Colorado National Speedway in Dacono to PPIR beginning with the 1998 season, and the track hosted Truck Series events through 2002.
The NASCAR Busch Series also competed at PPIR, and the Indy Racing League held races at the facility, making it one of the few venues in the American West to host both open-wheel and stock car premier-level events.
Racing operations were suspended in August 2005. International Speedway Corporation, which had acquired the right of first refusal on the complex in 2002, purchased PPIR in October 2005 for $11 million. ISC subsequently sold the facility in late 2006, with the transaction closing in early 2007.
When PPIR LLC acquired the track from ISC, the sale included a clause prohibiting sanctioned professional auto racing. Additional safety upgrades required for professional series — estimated at over $1 million — were not pursued by the new ownership, effectively ending PPIR's role on the national racing calendar.
The track resumed activity in 2008 as a venue for amateur and club motorsport. PPIR hosted a USAC Traxxas Silver Crown Series event in 2013 and was announced as the site of the richest event in SRL Southwest Tour history that same year. The track previously ran the largest autocross series in the Rocky Mountain region, PPIR Time Attack, which staged eight to ten rounds per year on varied infield courses.
Current programming includes SCCA Solo autocross, time trials, NASA events, drifting, track days, car shows, and enthusiast gatherings.
On May 19, 2026, the announcement came that the 2026 season would be the final year of operation at Pikes Peak International Raceway. The property is planned for mixed-use redevelopment, bringing to an end a nearly three-decade history as Colorado's most prominent permanent motorsport venue.
PPIR represented an ambitious vision for professional motorsport in Colorado, combining access to the Denver–Colorado Springs corridor with a fast, purpose-built oval that attracted the IRL, NASCAR Busch Series, and Truck Series within its first years of operation. Its relatively brief professional window — active from 1997 to 2005 — nonetheless cemented its place in the regional motorsport history of the American West.