Demolition begins on vacant Speedway motel

Back to TopCommentsE-mailPrintBookmark and Share

Demolition began Monday morning on a vacant Budget Inn motel near Interstate 465 that the town of Speedway purchased in hopes of redeveloping the blighted property.

Speedway officials earlier this year paid $750,000 for the 3.2-acre property that contains the 112-room motel, which closed more than a year ago.

The property on North High School Road near Crawfordsville Road will be converted into green space until it can be redeveloped, said Scott Harris, executive director of the Speedway Redevelopment Commission.

The parcel on Speedway’s west side is not a direct part of the town’s highly publicized "Speed Zone" redevelopment effort. But Harris said it’s still an important related piece.

“That’s our commercial corridor and the gateway to our city,” he said.

Speedway officials broke ground last November on the first phase of a $500 million redevelopment project they hope will transform the small town into a year-round racing-themed destination. Initial work involves $6.7 million in road improvements to Main Street, laying the foundation for redevelopment to follow.

The Speed Zone plan calls for new roads, parks, retail, restaurants and entertainment attractions to improve the Main Street business district and surrounding neighborhoods.

The ambitious redevelopment includes more than 350 acres from Main Street to Holt Road and from 16th to 10th streets, just south of Indianapolis Motor Speedway.

In all, 2.5 million square feet of new development could be constructed, which could return a 10-year economic impact of up to $5.2 billion and more than 2,000 jobs, Speedway officials say.
The improvements to Main Street should be finished by May, in time for the Indianapolis 500’s centennial celebration.

Demolition of the vacant hotel, expected to take between 30 and 45 days, will cost an estimated $144,000 and will be paid for with funds generated by a tax increment financing district. The Speedway Police Department reported nearly 40 police runs to the property within the past six months. The town's fire department used the vacant building for training.


  • finally, but what about the east side?
    Irvington would like the Indy East hotel on Washington street razed. Speedway is on the right track. Blight should be torn down. Anyway, the neighborhood has spoken in Irvington. Hundreds of homeowners have filed objections to the terrible plan by the owner of the Indy East hotel to donate it to charity for use as a homeless shelter. At least Speedway has a vigorous redevelopment plan. In Irvington all we get is talk. Barnes. Hunter. When are we going to see the Streetscape project begun? Now they say next spring, or summer. Blah, blah, blah. When is the Eastgate mall going to be cleaned up? These Lifeline Data people are big liars. Now we hear the police dept is taking space there. Fine. But when is it going to be cleaned up? Metropolitan Development is spending too much time on downtown and not enough time on neighborhoods.

Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. Angela IS the best RD

  2. We are a nation of speed. All of our younger lives are filled with deadlines, quotas and bottom lines. We start to ease out of the pressured rat-race when we finally see "retirement." The most enjoyable travel on the planet is passenger rail service. Indy to Chicago does not beat Megabus or Southwest Airlines in speed. Passenger rail however has the best seating, mammoth legroon, seat backs that recline to more than 45 degrees and employers that really want you to return as a customer. Indiana municipalities need to maintain subsidies to support this transportation mode. Losing it is loss for all of us.

  3. Good day! I just want to testify how i got my loan from Mr. Eric Lefkofsky after i applied several times from various loan lenders who claimed to also testify right in this forum,i thought the testimonies where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan. Until a friend of mine introduce me to this popular Mr. Eric Lefkofsky who promised to help me and indeed he did as he promised without any form of delay. I never thought there are still reliable loan lenders until i met Mr. Eric lefkofsky who indeed helped me with the loan and changed my belief. I promised to share this testimony after I got my loan. I don't know if you are in any way in need of a genuine and urgent loan,free feel to contact Mr. Eric Lefkofsky via their email{grouponfunding@hotmail.com}

  4. Its a THUG issue. Bleecker Street and NYX are thug bars. They attract thugs of all races. Places that attract thugs need to be kicked out of Broad Ripple. Ain't nobody got time for that!

  5. Hello everyone, My name is Marian Gareth, I am from the Texas, United State, am here to testify of how i got my loan from Mr Andre Frank {frankloancompany@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right in this forum,i thought their lending where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan.Until a friend of mine introduce me to Mr Andre Frank the C.E.O of Andre Frank Loan Company who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Andre Frank, who really help me with my loan and changed my lief for better. I don't know if you are in need of an urgent loan, free feel to contact Mr Andre Frank on his email{ Frankloancompany@yahoo.com} for help