Tuesday, November 24, 2009

Speedway breaks ground on the future

The Town of Speedway, Indiana broke ground last Thursday on the first phase of a multimillion dollar project that will give the town that surrounds the Indianapolis Motor Speedway a huge facelift.

The Main Street project is the first milestone in the town's Redevelopment Area One and is part of a $500 million investment to breathe new life into 400 acres of multi-use property that will be primed for commercial, shopping and entertainment, residential and research and development projects. Made possible through private and public investment, the redevelopment zone will be a vibrant, thriving and attractive downtown that will foster growth within the existing business community and encourage development of new business.

In total, Speedway's Redevelopment Area One will bring an anticipated total economic impact of $5.2 billion from road improvements, new development and business operations over its first 10 years.

"Main Street will be the backbone of a bustling, vibrant downtown district," said SRC President Vince Noblet. "The project we're commencing today will bring a safer pedestrian experience, with room for sidewalk cafes and a bike path to re-energize the atmosphere on Main Street and attract new businesses, shops and restaurants."

"As we celebrate our Centennial Era and look toward our next 100 years, the Town of Speedway joins us in looking toward the future by moving forward with a redevelopment plan that is crucial to the success of the businesses that call Speedway home," said Fred Nation, Indianapolis Motor Speedway vice president of communications. "Racing is an integral part of the culture in Speedway and the redevelopment of Main Street will attract race fans by providing a variety of entertainment options close to the Indianapolis Motor Speedway."

The Redevelopment website link is listed below.


No comments: