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Sunday, June 28, 2015

Old General Motors Plant to Become Multi-Million Dollar Car Condos



In 2008, the doors slammed shut at the General Motors assembly plant on the corner of Woodward Avenue and South Boulevard in Pontiac, Michigan – never to open for business again. But seven years later, one intrepid group is bringing car culture back to that site in a big, big way. 
It’s called the M1 Concourse, a project spearheaded by CEO Brad Oleshansky, which will turn the disused 87 acre blank slate into private car condominiums for storing, enjoying, working on, and even racing cars. Yes, racing. The multi-million dollar project includes plans to develop a 1.5 mile racing circuit throughout the grounds, equipped with a third-mile straightaway.

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.