The couple opened JD Racing Indoor Karting in Novi in 2012 and sold the go-karting business in January for an unspecified seven-digit amount, Dick said. An avid racing driver who competed in the Trans Am Series TA2 at the Detroit Grand Prix last summer, Dick said he was ready to improve his business.
“That was kind of a stepping stone to the master plan for a major automotive / motorsport development,” said Dick of JD Racing, which now operates under new ownership as Full Throttle Adrenaline Park.
The first phase of Motorsports Gateway, including the track, garage suites, pit lane clubhouse and amenities, is valued at $ 65 million. A groundbreaking is expected next summer and completion is scheduled for the end of 2025, although the route could be drivable by 2023. If that goes smoothly, an auto innovation park and mixed construction with an additional $ 35 million will be required in phase two.
The project is still a long way from the finish line, but is supported by the city and several investors. Dick said about 20 percent of the units were sold to “founder owners” who pay $ 390,000 per 1,200 square foot unit. He declined to name the buyers early on, as they “prefer discretion”.
Additionally, Dick said that he and his father are investing more than $ 1 million in the project by using the proceeds from the sale of JD Racing. You need at least $ 6 million to get the project off the ground. Dick said he was confident this will happen.
The concept of the automobile country club – a playground for wealthy people who have more fun driving a car than playing golf balls – has been around for years, but it seems to be growing in popularity. The Monticello Motor Club, which opened in New York in 2008, is the model for many who came after. The Thermal Club opened in California in 2017 with recently announced expansion plans. The Concours Club opened in Miami in 2019.
Michigan has the M1 Concourse in Pontiac, which opened in 2015 and has a “private garage community” with flexible storage and entertainment space. But Dick believes there is a lot more market share out there, especially with his hopeful twist on the concept: condominium. His plan is to turn the garages into living quarters for owners who prefer not to go out at night. Most auto clubs do not offer residencies.
“It seems that there is quite a lot of demand nationwide,” said Dick. “There are quite a few of these automotive country clubs going online. There has been quite a bit of pressure on real estate to be habitable or residential. Our intent is to explore the opportunity.”