The NASCAR Hall of Fame will honor drivers who have shown exceptional skill at NASCAR driving, all-time great crew chiefs and owners, and other major contributors to the sport. NASCAR has committed itself to building a Hall of Fame and on March 6, 2006, the city of Charlotte, North Carolina was selected as the location. Ground was broken for the $160 million facility on January 26, 2007 and is expected to open no later than the first quarter of 2010, with the inaugural class inducted during the week of Sprint All-Star Race XXVI. The new Hall of Fame is expected to bring hundreds of jobs and an increase in tourism to Charlotte. In addition to the Hall of Fame, the NASCAR Plaza, a 20-story office building, opened in May, 2009. The 390,000-square-foot (36,000 m2) structure will be the home of Hall of Fame-related offices, NASCAR Digital Media, and their licensing division. Other tenants include; Charlotte Regional Partnership , 7th floor and Lauth Property Group. Richard Petty and Dale Inman helped unveil the first artifact at the Hall of Fame, which was the Plymouth Belvedere that Petty drove to 27 wins in 1967.
The City of Charlotte is responsible for the construction of the building and will own the NASCAR Hall of Fame. However, it will be operated by the Charlotte Regional Visitors Authority. Winston Kelley is the NASCAR Hall of Fame Executive Director. Internationally renowned Pei, Cobb, Freed & Partners is leading the design effort. Little Diversified Architectural Consulting based in Charlotte, NC is the local architectural firm overseeing many aspects of design and construction of the project. Exhibition design is by Ralph Applebaum Associates, and exhibition lighting by Technical Artistry. Site excavation and grading services commenced on May 21, 2007.
Because of stock car racing's roots in and wealth of famous drivers from North Carolina, many NASCAR offices in the area and many teams in the three major series NASCAR competes in (Sprint Cup, Nationwide Series and Camping World Truck Series) totaling over 73% of motorsports employees in the United States working in what the committee called "NASCAR Valley", Charlotte was considered the favorite by many fans and commentators. The proposed site is in Uptown Charlotte, one half hour south of Lowe's Motor Speedway. Another factor that helped in the winning bid was the fact that over half of the total population of the USA was living within a 500-mile (800 km) radius of the greater Charlotte region. The bid was led by NASCAR car owner Rick Hendrick, Mayor Pat McCrory, and business leaders in Charlotte. Pei Cobb Freed & Partners were enlisted for the complex's design, which will be located near the Charlotte Convention Center. An expansion, which includes a new ballroom, is also part of the project.