Public, Private Investment Driving Speedway Growth

Speedway leaders say the town is full speed ahead with millions of dollars in public and private projects that will help change the landscape of the Marion County community. At the heart of them all, says Town Manager Jacob Blasdel, is the new Town Hall in an old PNC Bank building that will house all of Speedway’s town offices. Also in the works are a recently-announced $8 million mixed-use proposal on Main Street from Rebar Development, the soon-to-open $36 million Wilshaw development and a planned hotel. Blasdel updated the projects this week during his annual State of the Town address.

Blasdel says the new Town Hall will mark the first time in several years that all of Speedway’s town offices will be under one roof. The 39,000-square-foot building will the town manager’s office, school administrative offices, the police department and the treasurer’s office. Blasdel says about 50 people will work out of the office on a daily basis. 

Fishers-based Rebar Development this week announced it would redevelop a section of Main Street into a multi-use site including residential, retail and office space. The company partnered with Carmel-based Hageman Group to acquire the land. The two-phase project will feature two three-story buildings that will feature retail and office space on the first two floors and condos on the third floor.

Blasdel says the Wilshaw project, which broke ground in in May, is nearing completion and could open next month. When complete, the development will feature 90 apartment units, 8,000 square feet of retail space, the Wilshaw Indianapolis hotel and a 2,600-square-foot restaurant.

He says leading public efforts and attracting private development investment are all part of an ongoing strategy to keep Speedway moving forward. "We like to joke that we like to have something new for all the mini-marathon runners that come in every year, to have something exciting for them to look at as they’re running along."