An effort to move the famed Hollywood Park racetrack from Inglewood to Irvine is a tale of the suburbs and the inner city.

For Irvine, a racetrack at the former El Toro Marine base would bolster its hopes to transform the closed base into a giant park surrounded by homes, offices and stores. Until 2002, the old military compound was headed for rebirth as a commercial airport.

In Inglewood, some track old-timers lament the prospect of losing the 66-year-old institution that opened during Hollywood’s golden era. But city officials are upbeat about the possibility of a move, which would open the track’s 237 acres to retail development that could double its current tax take.