Together with his longtime partner Charles Tutt, Penrose completed a plan to build a road to the 14,115-foot summit of Pikes Peak, to promote tourism in the area. At a cost of $283,000, the highway was completed on August 1, 1916. The same year, Penrose organized the first motor race to the summit; established annually, it is the second-oldest motor car race in the US. It still runs in the early 21st century, and is known as the Broadmoor Pikes Peak International Hill Climb.