This would not Daytona's first renovation. In past years, the speedway has upgraded the infield, garages and the club areas.
For now, the project will be put on the back burner until after the Daytona 500 on Feb. 24.
"I hope to have something more creative in (late) February and I have to get in front of our senior management later in 2013 and hopefully at that point I will know cost because that's when I have to ask for approval," Chitwood said. "Then I will have more details about the timing."