Jana's Real Estate Blog

Austin Formula One auto race organizers announced that the proposed track will be on about 900 acres near Elroy in southeastern Travis County.  But, then in their news conference they said they were still considering other locations. So there is some confusion still on the exact location.

Austin, TX will be the first city in the U.S. to have a facility built specifically for Grand Prix racing. The racing will be held from 2012 to 2021.  The U.S. hasn’t had Formula One racing since 2007 where it had been held for eight years at Indianapolis Motor Speedway.  The great state of Texas has pledged $25 million annually in support for the event.

The venue will be designed by Tilke, a German firm.  Tilke has built racetracks in Abu Dhabi, Bahrain, Shanghai and Istanbul as well as some other cities.

“As many Americans know, Austin has earned a reputation as one of the ‘it’ cities in the United States,” stated Tavo Hellmund of Full Throttle Productions. “Austin features that rare combination of ideal geographic location and beauty. Its fine dining, world-renowned hospitality and excellent transportation infrastructure make Austin ideally suited to host and manage an event of this magnitude. Few cities if any in America could rival the connectivity of all these key elements needed for hosting a Formula 1 event as well as Austin.”

Visit their new website, www.formula1unitedstates.com for additional information.