While the eyes of the world will be on the Indianapolis Motor Speedway for this weekend’s 106th running of the Indy 500, the Town of Speedway expects to attract some added attention as it shows off a transformed Main Street to out of town visitors. More than $500 million in private and public sector investment over the past 15 years has transformed Speedway into a town that community leaders say is about more than a day in May.
“It’s mind-bending,” says Speedway Town Council President Vince Noblet. “When we started you could actually shoot a gun down Main Street and not hit anything, there was no activity, but through a consensus of the residents of Speedway, we were able to start this project and get enough momentum to where it is today.”
Noblet and Town Council Vice President Gary Raikes talked about redevelopment and a stalled hotel project that appears ready to go on this weekend’s edition of Indiana INdiana Business with Gerry Dick.
Noblet and Raikes tell Inside INdiana Business the high-profile hotel project at the corner of 16th Street and Crawfordsville Road is set for a closing with a new developer May 26.
Atlanta-based hotel management and development firm Hotel Equities, which has more than 200 properties throughout North America, announced earlier this year its intention to finish construction of the Wilshaw Hilton Hotel as a Tapestry Collection by Hilton property.