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Good to see IBJ revisiting what has become a massive embarrassment for the Town of Speedway. The only people benefiting from the Wilshaw Hotel debacle are the lawyers handling the lawsuits. The town has to bare some of the responsibility for letting this get out of hand by not acting sooner when it became obvious the project was in trouble. Instead, town officials just wring their hands in frustration. If possible, it would be best to demolish the rusting structure and, at least for now, replace it with a nice plaza.
This is a similar situation with the Pan Am plaza and Hilton hotel project downtown Indy. Had not the city stepped in to bail out Kite development company, the project would never have broken ground
The very idea that a small, well run themed hotel steps from the IMS, its museum (to be reopened) is NOT a viable enterprise is preposterous. The absurdity is further demonstrated by the investment of adjacent business enterprises. Town leaders need to identify what steps need to be taken and then move forward. Five + years of indecision, un filled promises and red tape is enough.