A massive new development could be headed to Banks Crossing as the 318-acre Atlanta Dragway is on the market for sale.
The property could be redeveloped for industrial, commercial or residential use if an owner doesn't want to keep the racetrack operating.
Located near I-85 with multiple access points to the interstate and near the new SK Battery plant, the property is a prime location for industrial or commercial development.
The National Hot Rod Association is selling the property. JLL Capital Markets is marketing the property on behalf of NHRA.
The NHRA announced it would sell the property in December, but indicated at the time it would be maintained as a raceway.
According to a story in the online DragZine website, the NHRA initially said, "Our intention is to sell the property as a drag racing facility and to keep the Southern Nationals there, as well."
But that may not happen as JLL is marketing the property for its redevelopment non-racing potential.
"The City of Commerce is experiencing exploding growth alongside the construction of the $2.6-billion SK Innovations manufacturing facility, one of the largest economic developments in Georgia’s history," states JLL. "The Banks Crossing intersection where the Atlanta Dragway is located has been designated by Banks County as a targeted industrial, commercial and residential development corridor."
JLL said the site is prime property.
"The site’s desirable location and flat topography presents a unique redevelopment opportunity for a variety of uses in the Interstate 85 North corridor," JLL states.
Banks County Board of Commissioners chairman Charles Turk said he would like to see the raceway kept running, but if not, commercial development that generates sales taxes would be another option.
"We would like to see it continue as a race track," he said. "If that is not feasible, it would be good to have it as a retail and commercial site. A standalone grocery store would be great along with retail which would produce sales tax money to help with the impact of new housing on our school system. High tech manufacturing could also work in the area. We wish the best of luck as the owners of the drag strip pursue the possible sale of the property."
JLL is also marketing the nearby 85-acre Commerce Exchange property along Steven Tanger Blvd. behind the outlet mall and Ridgeway Church Rd. One industry has already located on the site.