NASCAR’s Joey Logano gets green light for $255M mixed-use development

NASCAR champion Joey Logano’s $255 million mixed-use development in North Carolina has gained traction.

The project, called Town 1 Mixed Use Center and pairs Logano with developer Treenail Development, has the support of the town of Huntersville, with the board of commissioners approving rezoning by a 6-1 vote, the Charlotte Observer reported.

The plans include 747 multi-family homes, a seven-story office building, a seven-story parking deck, and three two-story commercial buildings. The non-residential space will span about 420,000 square feet, including offices, restaurants, retailers, and warehousing.

The development will feature a balanced mix of residential and commercial spaces, with roughly half the acreage allocated for each. Various types of housing will be scattered throughout the site, predominantly for rent, and the plans include seven affordable-housing units. 

Commissioner Rob Kidwell, the sole dissenting vote, expressed concerns about the project’s size, particularly the parking deck and office building. 

However, Commissioner Dan Boone argued that the development aligned with the town’s 2040 Community Plan and deemed it to be in the public interest.

Situated on a 70.5-acre site at 11101 Hambright Road, Town 1 will be bordered by Interstate 77 on the eastern side and Mount Holly-Huntersville Road on another side. The center will have access to a Charlotte Area Transit Station near its main entrance on Hambright Road.

Logano, who drives the No. 22 Shell-Pennzoil Ford Mustang for Team Penske, has owned a portion of the project’s land for over a decade through his company, Catawba Property Investments. 

NASCAR has shaped the local economy near Charlotte for some time. Over the past decade, many of the sport’s richest drivers have moved to the Lake Norman area, about 20 miles from Charlotte, thanks in large part to the proximity of Charlotte Motor Speedway, a major track, according to the Wall Street Journal.

“All of the employees, drivers, mechanics, everybody really involved in the industry mostly lives in this area. It’s just become the hub,” Dale Earnhardt Jr. told WSJ. “It’s just a coincidence that I was born and raised here but I suppose that if NASCAR was located in another part of the country that’s where I’d be.”

— Ted Glanzer