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A luxury racetrack is opening in Detroit

The M1 Concourse, including a racetrack and skidpad, opens in August and will be available for use exclusively by car condo owners and members of the M1 Motorsports Club.

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Rebecca Cook/Reuters/File
A view of the Detroit skyline as seen looking south up Woodward Avenue.

The country club racetrack phenomenon continues to grow and this time it is in the heart of car country: Pontiac, Michigan. Opening this summer is the new M1 Concourse. Built on 87 acres of land off Woodward Avenue, M1 Concourse intends to be a center for automotive enthusiasts, with a 1.5-mile racetrack, a 2.5-acre skidpad, event space, and eventually up to 250 car condos.

M1 Concourse is slated to open in August, with 80 of those car condos ready by then. Another 50 are expected to be completed by the end of the year. The third phase of car condos, which are essentially garages, is set for Spring 2017 and the fourth stage is planned for 2018. Also due in 2017 are restaurants and retail shops.

Pricing for the car condos ranges from $105,000 for a 500-square-foot garage to $650,000 for a 3,000-square-foot facility with space for living and entertaining.

Buying a car condo qualifies owners for access to the M1 Motorsports Club, which gives them access to the racetrack once a membership fee and annual dues are paid. At this point, however, there is no racetrack membership option for those who don't buy a condo. It's a club of owners only, and M1 Concourse seems to be focusing on them, and not the track. In fact, M1 says the track was added for automakers and suppliers who had interest in renting a track. The only other way to use the track is to be part of a corporate group that rents it.

While the M1 Motorsports Club option appeals to owners of performance cars, M1 Concourse features hot rods and muscle cars in its promotional video, in an apparent effort to build a car community that may want to store their cars and hang out with like-minded people.

M1 Concourse is set to open the week before the Woodward Dream Cruise, which starts August 20th, and it will host events around Detroit's annual pilgrimage of American Iron.

This article first appeared at MotorAuthority.

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