NASCAR champion Joey Logano’s $255 million mixed-use development in North Carolina is getting attention.
The project, called Town 1 Mixed-Use Centre, by Logano in partnership with developer Treenail Development, was backed by the Town of Huntersville, where the council voted 6-1 to approve the rezoning, The Charlotte Observer reports.
The scheme includes 747 multifamily units, a seven-story office building, a seven-story parking garage, and three two-story commercial buildings. Nonresidential space is approximately 420,000 square feet and includes offices, restaurants, retailers and warehouses.
The development will have a balanced mix of residential and commercial spaces, with approximately half the area allocated to each. Various types of housing will be scattered throughout the site, primarily for rental purposes, and the scheme includes seven affordable homes.
The only councilor who voted against, Rob Kidwell, expressed concern about the size of the project, particularly the car park and office building.
However, Commissioner Dan Boone found the development to be in line with the town’s 2040 Community Plan and deemed it in the public interest.
Town 1 is located on 70.5 acres at 11101 Hambright Road and is bordered by Interstate 77 on the east side and Mount Holly-Huntersville Road on the other side. The center will have access to the Charlotte Regional Transit near the main entrance on Hambright Road.
Logano, who drives the No. 22 Shell-Pennzoil Ford Mustang for Team Penske, has owned part of the project through his company, Catawba Property Investments, for more than a decade.
NASCAR has been shaping the local economy around Charlotte for some time. In the past ten years, Many of the wealthiest racers have moved to the Lake Norman areaIt’s about 20 miles from Charlotte, according to the Wall Street Journal, thanks in large part to its proximity to the main race track, Charlotte Motor Speedway.
“All the employees, the drivers, the mechanics and everyone really involved in the industry mostly lives in this area. It just became the hub,” Dale Earnhardt Jr. told the Journal. “It’s just a coincidence that I was born and raised here, but I figured if NASCAR was in another part of the country, I’d be there too.”
— Ted Glazer
