Work Moves Ahead On Pontiac Race Track, Car Condominiums
PONTIAC (WWJ/AP) - The site of a former General Motors factory in Pontiac is being transformed into a private playground for car enthusiasts with a race track and car condominiums.
The $60 million M1 Concourse project is on pace for a June opening, according to a report in the Detroit Free Press.
The project's $25 million first phase involves construction of a 1.5-mile track and 80 car condos, which are climate-controlled garages that can double as entertainment rooms. Buyers can't live in the condos, but they can sleep over on occasion.
Use of the track would generally be reserved for condo owners and their guests.
Brad Oleshansky, M1's founder and CEO, says there were "a ton of skeptics" about the project. He says units mostly will be used as "man caves, offices or corporate hospitality suites."
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