SRC Discusses Master Developer Presentations


(posted Nov 8)

The Speedway Redevelopment Commission continues to work on its due diligence to select a master developer for Speed Zone.

The commission debated the strengths of Browning Investments and Mansur Real Estate Services at its election day special meeting.  The 8 am meeting started 12 minutes late due to SRC member Ron Fisher helping at the polls. The Navigator was contacted by local residents who had committed to be poll workers and were displeased with not being able to attend the meeting.

SRC member Ron Fisher indicated Browning has a strong industrial background with Mansur stronger in the areas of what SRC is trying to do in the Speed Zone. He acknowledged both firms are capable.
Fisher said if Duke and Browning would be part of this he would be more comfortable with Browning on the project. Browning is working on a project in New Albany that Fisher wanted to inspect before making a decision.

Fisher indicated the Speed Zone's development would be 50-70 percent commercial and needs to be weighed against the lower industrial development. Fisher pointed to the success of Fall Creek that involved Mansur.

Noblet said the potential master developers all supported the plan of closing Georgetown Road, and Browning would like to see Holt Road extended to I-65.

Fisher wanted a special session before they make a decision on Nov 19th. Fisher also wanted to send questions to the firms again before making a decision. Noblet agree he needed to ask some hard questions to make a decision.

"It's phenomenal that companies of that size came out at that time of the morning excited about our town. I'm surprised that there wasn't anybody else there from our town except for one person. To hear that those companies have that much interest in this town is exciting," Fisher said.

The SRC has always stated in its public meetings that presentations from master developers would be held in executive session since the plan to hire a developer was first announced on July 16 and reiterated on Oct 17.  The SRC's website does not mention the Nov 2 special session.

The original notice for the developer meeting was posted as an executive session, then changed to a special session on the afternoon of October 30.