In the heart of Middletown, Rhode Island, a new luxury car condo club and community is quickly becoming a haven for automotive aficionados and car collectors in the Newport area.
Built specifically to cater to the elite car collectors of the upper east coast, the facility, named “The Newport Car Vaults,” is the brainchild of real estate developer Blake Henderson. Under Blake’s leadership, the car club aims to seamlessly marry a luxury lifestyle with the love of collecting cars and celebrating motorsports.
The club officially opened its doors in mid-2023, swiftly becoming a symbol of Newport’s rich car culture traditions. The 30-unit facility offers a mix of luxury vehicle storage with a blend of an active car culture community.
Often dubbed a car condo, the structure mirrors residential condominiums where owners purchase their units, share in association fees, enjoy appreciation values, and have access to shared common areas.
Blake Henderson, a seasoned entrepreneur with a background in construction, envisioned a sanctuary for car collectors after observing his friends’ challenges in finding secure storage for their prized possessions.
With an available 2-acre space at 55 John Clarke Road, Henderson began to lay the foundation for what would become the “Newport Car Vaults” Luxury Car Club. He was motivated to build a new club by the overwhelming success he saw in similar car condo clubs in California, Texas, and Florida.
At the heart of the Newport Car Vaults are the 30 meticulously designed car storage vaults (car condos), dubbed by Blake as the “Luxury Motorsport Lifestyle Garage Condominiums” (LMLGC). Every car condo unit is a private museum of sorts and can park up to 12 cars in a 100% secure environment.
Beyond mere storage, each unit owner has the opportunity to enhance their space with a luxurious lounge on a mezzanine that overlooks their prized automobiles. It’s a space where club owners can unwind and relish the view of their cars, or host lively gatherings with guests.
Some have opted to further personalize their units with additional features such as pneumatic car lifts, marble flooring, specialty track lighting, home entertainment centers, cigar rooms, exercise equipment, and even fully stocked bars, turning their spaces into true havens of leisure and enjoyment.
This comprehensive array of upgraded amenities embodies the luxurious atmosphere Newport Car Vaults strives to create. The management of the Vaults is committed to delivering an unparalleled experience for both the automobiles and their owners.
From the outset, the business model of Newport Car Vaults resonated deeply with its target market. Even amid the challenges brought about by the COVID-19 pandemic, the appeal of these car condos and the act of car collecting continues to thrive.
The fervor within the car collecting market was so pronounced that a substantial portion of the units were pre-sold even before Blake secured bank financing. This stands as a testament to the magnetic appeal of car club communities among car collectors.
Additionally, the pricing spectrum of a single-car condo unit has now peaked just above $850,000 per unit, with new units initially entering the market at around $350,000. This pricing trajectory underscores the genuine demand and aspiration for luxury car communities and premium car storage, crafting a veritable playground for adult car enthusiasts.
Newport Car Vaults transcends the basic storage needs of car collectors. It cultivates a private membership ambiance for like-minded car collectors and aficionados, offering a fertile ground for socializing and immersing in shared automotive culture experiences.
Situated merely 3 miles north of Downtown Newport, Rhode Island, the Vaults Car Club extends to owners a brief journey to historical automotive experiences. The escalating car culture in Newport is manifestly contributing to the inauguration of illustrious establishments like the Audrain Museum and the Newport Car Museum, enriching the local automotive landscape.
FACTOID: “The first American car circuit race was held nearby and the first Vanderbilt Cup trophy was given in a race on September 6, 1900 in Newport. Willie K. Vanderbilt and some of his closest friends traveled to the nearby horse track to race their newly-imported automobiles”. (Source:audrainconcours.com)