Charlotte Motor Speedway (formerly Lowe's Motor Speedway) is a superspeedway in Concord, North Carolina, a few miles north of Charlotte. It features a 1.5 mile long quad-oval track that seats 167,000 people, with room for 50,000 more spectators in the infield. Constructed in 1959, it was the first speedway to host nighttime racing (in 1992) and to offer year-round residences (in 1984) with 52 condominiums now available over turn one. It is presently owned by, and is the main facility of, Speedway Motorsports, Inc.]. The speedway is considered the center of NASCAR, with 90% of NASCAR teams being based within 50 miles.