SRC Welcomes Mini-Marathon Participants to Main Street

Newly renovated section of Main Street completed on time and on budget

Speedway, Ind. – The Speedway Redevelopment Commission (SRC) celebrated the recent completion of the Speedway Main Street Project’s Phase I with more than 35,000 OneAmerica 500 Festival Mini-Marathon participants on May 8, 2010. Phase I of the $6.7 million Main Street road construction project was completed in time for the month of May and gives residents and visitors a glimpse of what the finished road project will look like in May 2011.

Mini-Marathon participants followed the race course through the newly renovated section of Phase I by heading North on Main Street between 11th Street and 13th Street. Ceremonial balloons were released as the first wheelchair participant Chad Johnson and the first runner, Festus Langat, crossed over a painted yard of bricks.

“Celebrating our first milestone with the OneAmerica 500 Festival Mini-Marathon was a perfect nod toward our history, traditions and future,” said SRC President Vince Noblet. “Racing is an essential part of the Speedway community. The Main Street project will attract race fans during the month of May each year by providing a center for entertainment near the Indianapolis Motor Speedway.”

The Main Street project is the first milestone in the town’s Redevelopment Area One and is part of a $500 million investment to breathe new life into 400 acres of multi-use property that will be primed for commercial, shopping and entertainment, residential and research and development projects.

Made possible through private and public investment, the redevelopment zone will be a vibrant, thriving and attractive downtown that will foster growth within the existing business community and encourage development of new business. In total, Speedway’s Redevelopment Area One will bring an anticipated total economic impact of $5.2 billion from road improvements, new development and business operations over its first 10 years.

Upcoming Main Street phases include:
Phase II: Closed from 10th Street to 11th Street from June 2010 to July 2010
Phase III: Closed from 13th Street to the middle of the 1400 block from August 2010 to October 2010
Phase IV: Closed from the middle of the 1400 block to 16th Street from October 2010 to May 2011

SRC consists of five volunteers appointed by the Speedway Town Council. Using input from the entire community, the commission is charged with developing a plan to revitalize a 700-acre area, including Speedway’s Main Street.