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Pontiac : Development News

96 Pontiac Articles | Page: | Show All

Karmanos hopes to spark Pontiac revival with tech startups

Excerpt

Tech pioneer Pete Karmanos Jr. helped jump-start the downtown Detroit revival in 2003 by moving his Compuware headquarters from the suburbs into the gleaming, new 15-story, $450-million headquarters building at Campus Martius. Now he's hoping to do something similar for downtown Pontiac.

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Flagstar plans $10 million economic development program for Pontiac

Excerpt

Flagstar Bancorp Inc. announced a five-year $10 million economic development program for the city of Pontiac.

The program includes customized home loans for Pontiac residents and veterans; $2.5 million for small businesses, startups and business attraction; $1.5 million for the previously announced naming rights for the Flagstar Strand Theatre for the Performing Arts; and $1 million for financial literacy.

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M1 Concourse officially opens the largest automotive enthusiast destination in North America

M1 Concourse celebrated its official grand opening with a ribbon cutting ceremony attended by large crowds of customers, Detroit area automotive enthusiasts and local officials on Sunday, August 14, 2016. The 87-acre former General Motors property on the northwest corner of historic Woodward Avenue and South Boulevard in Pontiac, Michigan was targeted at the massive audience in Metro Detroit that is passionate about cars and motorsports.

At completion, the development will be the largest mixed-use automotive enthusiast destination in the world containing a 1.5-mile performance track, 250+ Private Garages, restaurants, and an auto-focused shopping village.

The first 130 Private Garages, representing Phase 1 and 2, were pre-sold over the past 18 months.  Our eighty Phase 1 “Founding Owners” began moving into their units in early August. The fifty Phase 2 units will be delivered by early 2017.  Phase 3 (43 units) will officially go on sale in September and is already 50% reserved.

“This was a challenging project to get out of the ground due to the site conditions, lack of traditional funding sources and overall skepticism about the scale of the project,” said Brad Oleshansky, the Founder and CEO of M1 Concourse. “My heartfelt thanks to the many people who believed in this project and provided the necessary support and encouragement.” 

M1 Concourse has received significant interest from companies seeking to reach the audiences who will enjoy M1 Concourse, including the private garage owners, corporations that will rent the track and other facilities for testing, training and marketing events, and the general public. Previously announced partnerships include an alliance with Champion (owned by Federal Mogul) to name the 1.5 performance track the “Champion Motor Speedway,” and Hagerty being named the “Official Insurance Partner” of M1 Concourse.   Additionally, FCA announced that the Dodge Viper ACR would be the “Official Pace Car” of M1 Concourse and its Dodge brand would be a fleet vehicle partner with the provision of Vipers and Hellcats for use in a variety of driving activities on the property.

M1 Concourse received cooperation and support of the City of Pontiac and Oakland County. “The City of Pontiac is proud of Brad Oleshansky and his team’s hard work and dedication to develop this site,” said Deirdre Waterman, Mayor of Pontiac. “The news and accomplishments of M1 Concourse continue to generate positive momentum in Pontiac’s redevelopment.”

The grand opening ceremony, attended by over 5,000 people, included presentations from United States Congresswoman Brenda Lawrence, Oakland County Executive, L. Brooks Patterson, Pontiac Mayor Deirdre Waterman, State of Michigan Representative Tim Greimel and Oakland County Treasurer Andy Meisner.  The collective theme of the presentations was one of transformation and the catalytic nature of the M1 Concourse development.  Surrounding properties have experience significant increase in value over the past 2 years as a result of the M1 Concourse development and the project is spurring other nearby investment.

Complete details on the project, including the private garage community, facility rental options and public events can be found at www.m1concourse.com, which was completely revamped to include a full event calendar, garage owner portal, the public “M1 Pit Crew” club and M1 branded merchandise store. 

About M1 Concourse
M1 Concourse will be both a private club and public destination designed to leverage the passion of the largest concentration of car enthusiasts in the world. The community of Private Garages will accommodate more than 1,000 classic cars set along a 1.5-mile performance track. A large portion of the project is open to the public, where people can enjoy restaurants, a walkable village of auto-focused businesses and year-round programming, including car shows, concerts, product demonstrations and more. The idea for M1 Concourse grew directly and organically from the needs of the local auto enthusiast community. Complete details can be found at www.m1concourse.com.

Regional development news round-up for June

A pitch competition in Pontiac, vibrant downtowns in Oakland County, a Peregrine Falcon named Grace in Macomb County, and more in our June development roundup.


Downtown Pontiac's newest tenant is a women's professional clothing boutique with a mission

Career Dress provides women of low- to -moderate-income with professional attire to help them gain employment and obtain economic independence.

Bike loop, fix-it stations, and more coming to Pontiac

Several bike-friendly initiatives are the latest effort to make Pontiac more livable, likeable and economically viable.



Is Pontiac the model for blight removal in Michigan?

Pontiac is getting aggressive when it comes to the remediation of problem properties, particularly vacant homes, in distressed neighborhoods.





M1 Concourse starts its engines

96 Pontiac Articles | Page: | Show All
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