Speedway Acquires 'Gateway' Property

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A long-term redevelopment plan for the area surrounding one of the state's best-known attractions has secured a key property. The Speedway Redevelopment Commission purchased the Motel 6 near I-74 and I-465 for $1.6 million. Executive Director Scott Harris calls it a "gateway" to the town and the Indianapolis Motor Speedway. Demolition has already begun and a Request For Proposal will be issued by year's end. October 24, 2013

News Release

SPEEDWAY, Ind. - The purchase of Motel 6 by the Speedway Redevelopment Commission, a piece of the Area 2 Master Plan for redevelopment, is complete. The demolition and plans for redevelopment of the area are underway.

The Motel 6 is located on Debonair Lane off of Crawfordsville Road and I‐465 and is part of Speedway's Area 2 Master Plan. Area 2 is located in the northwest corner of Speedway and is key to serving the commercial needs of the town and neighboring areas.

"We're excited to move into the next phase of redevelopment for this area," said Scott Harris, executive director of the Speedway Redevelopment Commission. "The implementation of the Master Plan will allow the Town of Speedway to achieve our long‐term goals, including an increased tax base, job growth and a better quality of life for residents."

Current issues in the area include building conditions, character and age, along with transportation, pedestrian safety and the presence of crime. To help alleviate these issues, the Area 2 Master Plan was formed after obtaining public input through stakeholder meetings, focus groups and various design concepts and proposed zoning guidelines.

Last November, the Master Plan was presented to the public by the commission and American Structurepoint for input and public comment, and was well received. There are four districts defined in the plan, and Motel 6 is located in the Regional Commercial District, which is intended to promote commercial attraction and development. The four districts are along I‐465, Crawfordsville Road and High School Road.

Each has a slightly different plan, but all are intended to create a healthy economic environment.

Goals for the districts include an anchor tenant, offices, shopping centers, restaurants, entertainment attractions and pedestrian‐friendly areas with new sidewalk improvements. A proposed trail is also planned along Crawfordsville Road to provide multiple transportation options for those headed to and from the district.

About Speedway Redevelopment Commission

The SRC consists of five volunteers appointed by the Speedway Town Council. Using input from the entire community, the commission is charged with developing a plan to revitalize a 700‐acre area, including Speedway’s Main Street and the large area to the northwest termed Area 2. More information about the SRC is available at www.speedwayindiana.com.

Source: The Speedway Redevelopment Commission