Speedway Panel OKs $965,000 for redevelopment work
Josh Duke
Indianapolis Star
January 15, 2009

Multistory buildings on each side of the street, outdoor seating along expanded sidewalks and architectural elements that highlight the town’s racing history could soon begin to breathe new life into Speedway’s Main Street.

The Speedway Redevelopment Commission reached a contract agreement this week for more than $965,000 with American Structurepoint, which will begin design and engineering work to revamp the town’s business district, from 10th to 16th streets.

American Structurepoint put together the town’s master plan nearly two years ago to redevelop more than 350 acres south of the Indianapolis Motor Speedway, including the Main Street business district.

Bonds that are covered by a tax increment financing district will pay for the work and the rest of the town’s redevelopment initiatives.

“We made the decision to use American Structurepoint because of their experience with the master plan,” said Scott Harris, the commission’s executive director. “There is no learning curve for them, and we have been quite happy with their work.”

With American Structurepoint leading the redesign, changes likely won’t stray from the master plan. The company’s original vision for the town’s Main Street called for major changes to create a thriving area similar to Downtown Indianapolis.

The redesign will include changes to the streetscape, curbs, sidewalks, subsurface utilities, lighting, trees and shrubs. Plans call for multistory retail buildings on both sides of the street with residential uses available in the top floors of those buildings.

Currently, retail is on only the west side of the street, with industrial uses to the east and little to no residential uses in those buildings.

The plans also show Main Street extending further north into Crawfordsville Road, where a newly designed roundabout will serve as a gateway into the business district.

Sidewalks will be wider to permit easier pedestrian movement as well as room for restaurants and other venues to have outdoor seating. A parking garage, new signs, artwork, lighting and plantings also were proposed in the master plan.

Harris said town officials hope American Structurepoint will have the design and engineering complete so construction can start by the end of the year.

“This part of the project is so critical,” he said. “In our dialogue with developers, they want this work to be done before they think about building in this area.”