Health pavilion continues Speedway revitalizationSRC Member
May 10, 2012
A new health pavillion is being built at the corner of 10th and Main streets in Speedway, a corner that only a year ago housed an abandoned factory building.
It’s the next step in the redevelopment of a once-thriving city that had fallen on tough times. Speedway has been moving toward this goal for seven years now. And while the finish line is a long way off, the start has been a good one.
With the turn of a shovel, a nearly $2 million Community Westview outpatient health care center goes from planning stage to reality.
“This project is just part of recreating that gateway to the track, which I think is very important for them to remain competitive and be recognized as the world’s greatest racing venue,” Speedway Redevelopment Commission Executive Director Scott Harris.
While the Indianapolis Motor Speedway’s place in history is secure, the town in which it sits, Speedway, has had its struggles. Growth had been stagnant for three decades.
So, seven years ago, the town took matters into its own hands, creating a master plan for redevelopment and pledging to spend as much as $120 million in infrastructure to make it happen, paid for by creating a Tax Increment Finance district. Essentially, taxes collected from the business that moves there will stay there and help fund the redevelopment.
“We want to have restaurants, we want to have entertainment, we want to have motorsports, we want to have advanced technology, we want to have services to our citizens,” Harris said.
A complete makeover of Main Street has helped put the city back in the race.
Dallara’s U.S. headquarters now sits in the middle of Main Street, and soon, Sara Fisher Hartman racing will begin building its home there. The Redevelopment Commission has $29 million already invested. The health pavillion adds another anchor to the street and the revitalization.
And more is in the works.
“It is not done yet. You’ll see something different a year from now,” Harris said.