A Fishers-based commercial real estate development firm is proposing an $8 million mixed-use development in Speedway. Rebar Development says the project would redevelop a section of Main Street that would include residential, office and retail space.
Rebar partnered with Carmel-based Hageman Group to acquire two parcels in the 1300 block of Main Street. The project includes two, three-story buildings that will be built in two phases. Each will feature 6,000 square feet of retail and 6,000 square feet of office space on the first two floors, with residential condos on the third floor. They will also include rooftop decks providing outdoor space for residential and commercial tenants.
"We are very excited to propose our Main Street project to the Town of Speedway and introduce this opportunity to potential future residents and tenants,” said Shelby Bowen, president of Rebar Development. “We look forward to working collaboratively with the Town Council and Redevelopment Commission on a project that would bring unique condo living, additional office and retail space, parking, and an inviting public pocket-park all in the heart of Main Street.”
If approved, construction on the first phase of the project could begin as early as this spring and be complete by spring 2020.
Main Street in Speedway has undergone a major change over the past few years with the addition of businesses such as the Dallara IndyCar factory, Daredevil Brewing Co. and Speedway Indoor Karting. Another mixed-use development, the $36 million Wilshaw, is currently under construction.