As Bruce Springsteen described so eloquently in song, Atlantic City has for decades been a place where one can chase the stuff that dreams are made of. Could that possibly include a Formula 1 racetrack?
It’s very much in the dream stage, but a developer has proposed spending $2.7 billion to create hundreds of new condos and apartments in a waterside environment, along with commercial shopping facilities and — the cherry on the top — a 2.5 mile F1 “style” racing circuit.
The city council recently voiced its approval of the plan, although its still in its formative stages and would take six to nine years to accomplish, according to the developer, DEEM Enterprises LLC. A representative for the firm previously told Atlantic City’s Chamber of Commerce that the track was designed by “the world’s foremost designer from Spain.” The Formula 1 organization has not addressed the plan.
A spokesman for Gov. Phil Murphy has said that the project does not yet have the backing or support of state officials at this stage.
The site of the proposed project is the 140-acre Bader Field, the former site of Atlantic City Municipal Airport, which closed in 2006. Previously the city had opened discussion about the potential fate of the property. A select few motorsports events have been run at the field, and the area’s SCCA chapter hosts autocross events there as well.