Well, there are some similar trees in the URL tracks that resemble the ones to the northeast of City Core, pictures:
Notice the similarities? And keep in note the car is pointing towards City Core and the map pointer is wrong, so it means the Bayview Speedway is actually flipped vertically and rotated some degrees depending by textures.
But what about those buildings in the first picture? I don't think they are part of City Core or the unaccessible part of Bayview, as they seem to be part of Beacon Hill.
This theory either means that the unaccessible part of Bayview has skyscrapers and those skyscrapers are not from City Core, or the unaccessible part is actually much further than you think.
If I remember right those buildings are on the other side of the river near the page on park? If so, then its just another estate of Beacon Hill which is accessable for pedestrians, I think there are sidewalks.
If they are on City Core side, they are part of the City Core, but just its estate, there are sidewalks along the bay.
I don't believe that the area east to Bayview has a real meaning, copy paste textures to give a nice scenery when you look down from Jackson Heights to fill the lookout points field of view to pretend there are suburbs and give more realism.
Hm, trees aren't the best reason, those can be seen at many places around the city and in the city.
The easiest is to focuse on the angle the see city core can be seen.
I think I know why the position arrow points south to be north, I think they use the city core replica which can be seen from the Jackson Heights for the race tracks scenery, its turned around, so the north side (hotel plaza) points south, the southside (south market) points north, meaning the directions for the driveable map counts.
Afterall, its hard to tell if those positions can be taken right, because EA seperated all the special race, drift and drag tracks, the question is did they cared about it being accurate and reflect the actual location, or just random.
In terms of environment the raceway could be east of beacon hill as it faces Bayview from the north-east.
I think we would need to compare the tracks if they have accurate position and from where they face Bayview.