Northville Downs was reportedly purchased by a housing developer per an announcement on Tuesday. However, this purchase does not necessarily point to the end of harness racing in Michigan.

Hunter Pasteur Homes acquired the valuable Northville Downs' property, consisting of a total of 48 acres, to develop the land into a complex of about 500-600 rental apartments, townhomes and single-family homes. The land, leased by the Northville Driving Club, annually receives numerous offers to either partially or fully acquire the property.

Northville Downs, now the last racetrack in the state of Michigan following the recent and sudden closure of Hazel Park Raceway, said in a release Tuesday it will continue to conduct harness racing at the current property through 2020, with plans to relocate the track currently in the works. No indication was made as to whether Northville will open a new complex regardless of 'racino' legislation, with the current laws in place disallowing racetracks from hosting casinos.

Northville Downs issued the below statement Tuesday:

Northville Downs is excited to announce that after being in business in downtown Northville for almost 75 years, we have entered into a contract to develop this unique parcel of land. We appreciate the support that the city of Northville and the surrounding communities have given us throughout the years.

Live harness racing and simulcast wagering will continue at our current location through 2020. We are in the process of exploring multiple other locations to develop a 1st class, state-of-the-art racing and gaming facility that Michigan will be proud of. We will continue to work closely with state and local representatives to implement the necessary changes that other states around us have, so we can bring racing back to its finest day."