M1 Concourse Named Winner of RACER’s Edge Award

Award is for Innovative Reuse of Former
Auto Manufacturing Property in Pontiac, Mich.

DETROIT — RACER Trust today announced the selection of M1 Concourse for a 2023 RACER’s Edge Award, in recognition of M1 Concourse’s innovative reuse of a former General Motors manufacturing property in Pontiac, Mich.

Elliott P. Laws, of EPLET, LLC, administrative trustee of RACER Trust, presented the award Tuesday to Tim McGrane, CEO of M1 Concourse, during a ceremony at Huntington Place, host of the 2023 National Brownfields Training Conference.

M1 Concourse, founded in 2014, is an 87-acre automotive events and entertainment venue, a state-of-the-art special events facility with 255 private garage condos and featuring indoor and outdoor meeting and event spaces that overlook a 1.5-mile test circuit that has welcomed some of the industry’s top brands. It has rapidly become the epicenter of all things automotive in Metro Detroit, providing a place where car enthusiasts can keep, show, and exercise their vehicles in the company of other enthusiasts.

Tim McGrane speaking after accepting a RACER’s Edge Award.

“The work Tim and his team have done in building M1 Concourse and turning it into a must-see destination for auto enthusiasts in Southeast Michigan is nothing short of inspiring, and has played a major role in the ongoing revitalization of Pontiac,” Mr. Laws said. “We couldn’t be more pleased and happy that M1 Concourse has been so successful, both for the community and for the people whose hard work and commitment to a bold vision is bearing fruit.”  

“With our owner’s vision, the property’s transformation was nothing short of extraordinary,” Mr. McGrane said. “This could only have been possible with the support and guidance of the RACER Trust and the brownfields experts that guided the inception of this 87-acre project. The development of the track, garages and special events venue came to life and far exceeded our imaginations, and we’re continuing with further development of M1.”    

Elliott Laws, Administrative Trustee, RACER Trust (left); Tim McGrane, CEO, M1 Concourse (right).
 

RACER Trust presents RACER’s Edge Awards to individuals and organizations in recognition of their successful redevelopment of former RACER properties or their support in helping RACER achieve its remediation and redevelopment mission in RACER communities.

In addition to M1 Concourse, this year’s winners were the American Center for Mobility in Ypsilanti Township, Mich.; RAV Properties in Syracuse, N.Y.; and the City of Flint and the Flint & Genesee Economic Alliance.

Past winners of RACER’s Edge Awards include Ashley Capital (redevelopment in Livonia, Mich.); AUCH Construction (Pontiac, Mich.); Lear Corporation (Flint, Mich.), Sirmax (Anderson, Ind.) and Ameresco (Danville, Ill.)

RACER Trust's environmental cleanup and the redevelopment by buyers and end users of its former General Motors Corp. (GM) properties have had a significant, positive impact on the regional economies which were hurt by the GM bankruptcy. Investments by RACER Trust’s buyers and end users have generated annual, recurring impacts of more than 59,600 jobs, $4.5 billion in labor income and $16.4 billion in regional economic output, creating new opportunities and revenue for communities.

About RACER Trust: The Revitalizing Auto Communities Environmental Response (RACER) Trust was created in March 2011 by the U.S. Bankruptcy Court to clean up and position for redevelopment the properties abandoned by General Motors Corp. in its 2009 bankruptcy. At its effective date, RACER Trust’s real property portfolio consisted of 336 tax parcels; 34 million square feet in 167 buildings; and 6,776 acres of land at 83 locations in 14 states. When it was formed, RACER was one of the largest holders of industrial properties in the United States, and the largest environmental response trust in U.S. history. Since then, RACER has completed more than 90 property sales and achieved a no further action status or similar regulatory closure for more than 50 components of cleanups. Investments by RACER Trust’s buyers and end users have generated annual, recurring impacts of more than 59,600 permanent FTEs, $4.5 billion in labor income and $16.4 billion in regional economic output, creating new opportunities and revenue for RACER’s communities. For more information, please visit racertrust.org.

About M1 Concourse: M1 Concourse blends style and speed, offering the perfect automotive venue for shows and events that can transform any event into a one-of-a-kind, exclusive experience. Included in this 87-acre property is a community of motorsports garages, a performance car service center and fueling station, and a 28,500-square-foot event center with indoor and outdoor spaces that overlook the 1.5-mile M1 Circuit. M1 Concourse is conveniently located on the legendary Woodward Avenue in the city of Pontiac and is less than 35 miles from Detroit’s Metropolitan International Airport.