The project’s official groundbreaking ceremony took place on June 24th, and The Detroit News reports the track will be constructed by the close of 2015 with the first of the 264 car condos in operation by Spring 2016.
The condominiums don’t come cheap however. The M1 Concourse offers three size and pricing options for their car-loving customers, which includes a 600 sq-ft condo for two to four vehicles ($100,000), a 1,200 sq-ft space that accommodates five to eight autos ($250,000), as well as a massive 2,400 sq-ft area ($500,000).
The car apartments offer climate controlled loft space and a customizable layout so owners can work and play with their cars in comfort, though these aren’t intended to be dedicated living spaces.
Further amenities will be added to the facility including office, shopping, and restaurant space. According to the company, the first 80 M1 Concourse garages have already been accounted for.
Once complete, M1 Concourse will join a number of other car condominiums, like Minneapolis’ AutoMotorPlex and the GarageTown USA locations, giving collectors even more incentive to spend time with their sports and classic cars.