LAS VEGAS (KLAS)– Formula one racing in Las Vegas is just over a year away.

The race headquarters will be located several blocks east of the Strip, behind Planet Hollywood, at Koval Lane and Harmon Avenue.

This year, Formula 1 spent nearly $240 million for just under 40 acres on the Las Vegas Strip. It was just a vacant lot at the time, but now, construction is underway to prepare for the mid-November race in 2023. The lot is already filled with signs of the race to come.

The lot will house permanent structures, a garage, and a paddock area for the cars. It’s also where the teams will be set up during race week.

Cars will enter the lot from Harmon Avenuwe and exit north on Koval Lane, eventually ending up back out on the Strip, where they will head south at speeds of up to 212 miles an hour.

The lot is zoned for casino property, and the contract is for three years for this race.