Not necessarily a good circumstance losing your track for some time, but I couldn't see the point in building one track next to another, unless the intention would be to knock the old one down once the new was complete.
When I think about how I have to travel to Sydney for winter racing which is 1hr45m away, I remind myself of how often I read of the US guys training without a track at all and travelling hours to ride or race on a velodrome. We get it pretty good here in Aust as a general rule.