M1 Concourse Opens in Pontiac, MI

The M1 Concourse officially opens, but business has been brisk for several months at the private "car condo" and track on the site of a former General Motors truck plant in Pontiac, MI. One year after groundbreaking, M1 CEO Brad Oleshansky says investors have purchased 130 private garages worth a total $25 million, and the plan is to build and sell 120 more. The cheapest unit is $105,000. Members have access to a 1.5-mile (2.4-km) track. The facility will host events, many open to the public, throughout this week leading up to Saturday's Woodward Dream Cruise. Construction of restaurants, shops and an events center on the site is planned within the next three years.