This doesn't mean a race is guaranteed, but it certainly makes for an interesting proposition.
Atlantic City Mayor Marty Small Sr. signed a memorandum of understanding with DEEM Enterprises last Thursday, setting in motion plans for a $2.7 billion redevelopment of the long-closed Bader Field that would include an F1-ready racetrack. Along with improved infrastructure, Atlantic City would benefit financially, receiving $115 million – up to $15 million of, which would be used to build a recreation center in the city.
“This won't cost the city taxpayers a dime,” said Mayor Small. “Immediately, $500,000 will be deposited into a city escrow account for professionals from the state and city to do their due diligence along the way to keep this project moving along. DEEM has a six-month window to show us what they got. This is their chance.”
Basically, this memo means that DEEM has exclusive rights to evaluate if the Bader Field site is worth its while. If not, other investors will be allowed to make a case to redevelop the 143-acre site.
If successful, the “auto enthusiast development,” as Mayor Small describes it, would include a 2.4-mile Formula 1-spec course, hundreds of condominiums, and commercial space. If the project, officially called “Renaissance at Bader Field,” is given the green light by all invested parties, it could take six to nine years to complete and would reportedly create 1,200-1,500 permanent jobs. The development has been proposed as a net-zero carbon project that would implement LEED Platinum-certified sustainability strategies, including a microgrid that would eventually use hydrogen.
As exciting as all this appears at face value, a closer look reveals that a bid for an entry on the F1 calendar is unlikely. For one thing, the US already has Grands Prix in Texas, Miami, and for the first time later this year, Las Vegas.
That said, America is a big place, and with a unique spin, the Atlantic City circuit could prove its worth as an addition to the calendar or perhaps even a replacement for other events in the traveling circus that is the top tier of motorsport.
Unfortunately, it does not appear that Atlantic City intends to launch a bid to host an F1 race (at least not at this point), which is prudent. We are still as much as a decade away from seeing the project completed, and much can change in that time. According to the Greater Atlantic City Chamber of Commerce, DEEM's Michael Binder envisions an entirely different use for the course than what is traditionally expected of a racetrack; it would essentially be exclusive to residents and their buddies.
Ferrari SF90 and Lamborghini Aventador owners could get the opportunity to drive on the track “at high but safe speeds,” according to Binder, with Small's office adding that it would be “for residential use.”
Binder added: “You can't come off the street and just drive your own car around, but rather you would need to be a member or guest of a member and be certified by professional instructors.”
Basically, this development would turn a disused airfield that has been closed since 2006 into a luxurious, all-inclusive village for the auto enthusiast, giving residents the chance to drive their supercars to the limit in their backyards. Binder says that “there won't be discernible noise from the motor course. There's more noise on Albany Avenue right now.”
Mayor Small also says the development would cut Atlantic City's property tax rate in half because “the ratable base will nearly double.”
On the one hand, all of this wording suggests that the track is being built exclusively to cater to the well-heeled who want a communal playground on their doorstep, and making it to F1 specifications would be a nice little drawcard. On the other hand, the developers could very well be thinking about an F1 race down the line.
Perhaps Miami and its awful fake marina could make way for a race in New Jersey. If it happens, we'll be there in 2033 to talk about it.
Keyword: Atlantic City Mayor Approves F1-Ready Racetrack In New Jersey