FIA Grade 2 Circuit, CIK Category A Circuit, Residential, Commercial, Hotel, Retail, Industrial, Education
In 2006 Apex was commissioned to undertake the Master Planning and detailed design of a 370 Ha park with HOK Sport as sub consultant which was to include an FIA Grade 2 race circuit, a CIK World Championship kart circuit and residential and commercial districts that incorporated hotel, leisure, retail, light industrial, educational, medical and office developments.
Construction of this project commenced in February 2007. The project has been proven for feasibility by KPMG and the process of extracting value from the parcelisation and sale of land around the circuit provides the capital for the construction of this €130 million project.
The Conference Centre and hotel complex design by HOK Sport is iconic and uniquely Icelandic and was intended to become a landmark for the country; it would have formed the focus of development on the North East corner and was to introduce an architectural theme for many of the motorsport building architecture and some of the residential apartment blocks.
The 2008 global financial crisis hit Iceland especially hard and this project stopped construction at that time. The political will is still in place and elements of the project have recommenced, such as the driver safety training school, which restarted construction in 2010.