I think it would be pretty cool to have it around a pond/lake. I live in the north east, and if not for the weather, something like Fresh Pond in Cambridge MA would be fun. It's 2.25 to 2.5 miles around, so it would take ~10 laps, it's fairly flat, and you could set up temporary seating around the entire perimeter so that spectators could watch the race unfold throughout. There has to be a similar place that would have good weather in February. Any reason not to do it this way?