Four years after the state fielded four proposals for redeveloping under-utilized parking lots at Belmont Park, the selection process was abruptly ended.

The Empire State Development Corp. informed the four bidders Friday that it was canceling its request for proposals first issued in 2012 that aimed to reimagine two of the racetrack’s parking lots.

The decision to cancel the RFP came after the largest of the proposals, a $400 million, 25,000-seat soccer stadium pitched by the New York Cosmos, appeared to be in jeopardy, following published reports of the team’s dire financial situation. The Cosmos plan also included 250,000 square feet of retail space, nine restaurants and a 175-room hotel to be built by Queens-based Mattone Group.

The other three proposals would have converted most of the property into a big-box and grocery-anchored retail center. Manhattan-based Related Development wanted to build 327,000 square feet of retail, 21,000 square feet of restaurants, a junior soccer field and a playground.

A plan from Garden City-based Engel Burman Group and its joint venture partner Basser Kaufman called for a 300,000-square-foot retail center, an athletic field with a 2,500-seat grandstand and a community center. Another by Syosset-based Blumenfeld Development Group would have turned the south lot into a big-box-anchored shopping plaza accompanied by an athletic field and basketball and tennis courts.

In November 2015, ESD told the respondents that it was removing an 8-acre parking lot on the north side of Hempstead Turnpike from the project site. The agency then summoned the developers to a meeting at its Manhattan headquarters the following month to re-present their plans for the remaining 28-acre lot on the south side of the turnpike.

In December 2015, Nassau Regional Off-Track Betting announced it would push to build a slots parlor at Belmont Park. But that plan was scratched after Nassau OTB made a deal in March to put the 1,000 video lottery terminals at the Resorts World racino at Aqueduct Racetrack in Queens.

After learning of the RFP process cancellation, Tammie Williams, who heads the Parkhurst Civic Association, urged the state to start again and seek mixed-use plans that could include commercial development, transit-oriented housing and recreational facilities.

“Who can be against having an RFP that allows all economically viable development plans for this property of regional significance?” Williams asked in an emailed statement. “We shouldn’t be limiting the ideas to racinos or a 25,000- seat soccer stadium, but rather encouraging as many ideas as possible.”