Speedway Redevelopment Commission

Fact Sheets

Redevelopment Area Two

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While many of Speedway’s largest employers and Indianapolis Motor Speedway lie within the Redevelopment Area One boundaries, the majority of the town’s amenities are located on the northwest side. However, many of the structures within this area are aging, substandard or vacant. Because of this, the SRC has identified a second redevelopment area.

Redevelopment Area Two will reshape business districts along Crawfordsville and High School roads and will potentially include transportation, retail and residential modifications. There will be approximately 300 acres of land in 95 separate parcels.

To begin the redevelopment process, the SRC and American Consulting completed a findings of need report for Area Two in January 2007. Findings of the report included:

Population of Area Two experienced a decline of 1.2 percent from 2000 to 2005
There has been no new construction in Area Two since 2003
36.3 percent of the overall building conditions are either fair or poor
71.4 percent of the structures are more than 20 years old

Redevelopment plans continued in 2008, when more than 90 residents, civic leaders and business owners in Speedway participated in a three-day planning session to develop two initial design concepts for Area Two.

Since residents were able to provide input on the creation of the concepts, the SRC was able to gather direct feedback from residents on issues such as traffic flow, park areas, housing options and restaurant and shopping diversity.

After the concepts were created, the SRC held a 30- day public input period to receive feedback on the design concepts. The next step in the process is for the city planners to review session results, public input, focus group results and feasibility studies to create a second round of concepts and a master plan for redevelopment.

The information presented is based on development concepts which are subject to change without notice. Illustrations and images are conceptual and no guarantee is made about whether the improvements shown will be built or if built, will be the same type, size or nature as shown or described.