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Economic Development Committee Hears Speed Zone Plan
(posted May 16)
Speedway's redevelopment plans are sparking an interest among the City
County Council Economic Development Committee members. The committee conducted
its May 15 meeting at the Brickyard Crossing Hotel and Golf Resort to hear
Executive Director Scott Harris' presentation of the $500 million investment
that will not only transform Speedway, but the west side of Marion County.
Harris discussed the missed opportunities to attract growth because of
the lack of investments around the Indianapolis Motor Speedway. According
to Harris, other racing venues have been successful at creating
a fan friendly environment for entertainment. He referred to other missed
opportunities, such as racing teams bypassing Speedway to build facilities
in adjacent counties or out of state.
The reinvestment, especially in the area of the town's infrastructure,
is necessary to help with major corporations business retention. He shared
a story from one of the Urban Land Institute panelists, saying Kansas City
always thought it had the NCAA in its hip pocket until one day it moved
to Indianapolis. Harris pointed out to the committee that Speedway
residents can't become complacent and think these businesses would not
relocate if a better opportunity became available.
He expected the IMS to make announcements soon about the 100 year celebration
of the inception of the track next year. The IMS will also celebrate the
centennial of the first 500 race in 1911. IMS plans call for a new hotel and
pro shop, and moving the museum outside the track. He said the mini convention
center is still on the table even though it has not received a lot discussion.
Harris said that the westside lacks a strong north-south corridor, with
Georgetown Road failing to extend south beyond Speedway. The solution is
the proposed Holt Road extension from 10th Street to 30th Street and eventually
to I-65. The road would enhance commerce and growth in the area, including
the Lafayette Square area. The closing Georgetown Road is for homeland
security purposes during races and to link race fans at the Coca-Cola plant
to Main Street by way of linear park.
The plan is not limited to just assisting the IMS, the realignment of 10th
Street and vacating Grande Avenue are to assist with productivity issues
for Allison Transmission. Allison Transmission is also expected to build a
technology and testing center.
Several Speedway property owners who are on the acquisition and expansion
lists attended the meeting to listen.
The stakeholders have formed a group called Speed (Speedway Population
Encourages Equal Development) to create a redevelopment plan that does
not cater only to the big corporations.
Harris told the committee that the redevelopment commission is trying to
work with property owners to help them relocate in the area. However, he
did not raise the issue that many of the stakeholders want to remain at
their current location. The committee did not accept public comment from
the audience.
The presentation showed Main Street's makeover as he pointed to Dawson's
on Main Street and the antique mall. He qualified the statement by saying
"but it's just a vision of what the area looks like." The plans
are fluid with changes expected to be made again with the next few weeks.
He said plans include bringing in more restaurants since the Dawson's is
having success.
Harris side stepped City Councilor Barbara Malone's question of additional
public safety and fire to protect the new growth. Harris responded that
the Homeland Security, FBI, Indiana State Police, and Speedway Police Department
were all unanimous in closing Georgetown Road.
Malone called the plan exciting and said that she loves to attend the 500-mile
race. She was also concerned if there will be enough consumers to support
the entertainment venue plans year around. Harris did not identify the
type of entertainment that would locate in the area, but said the proposed
mixed use development will provide year around traffic. He promoted Speedway's
other pluses of a good school system and its ten minute accessibility to
downtown as other reasons to come to town.
City County Kent Smith expressed concern for the residents and businesses
that were impacted by the project. He said some of the road projects are
putting some of "our constituents" in "turmoil."
Harris responded by saying that the realignment of 16th Street
did not affect any residential property, just businesses. John Reynolds
of 1617 Cord Street was placed on the expansion list because of realignment
and the roundabout.
Harris said that the three mobile home parks would be effected and the
IMS is working with its residents at Georgetown Mobile Home Park, and that
there will be relocation assistance for the other two mobile home parks.
The council also voted 5-0 to appoint David Oeth to the Speedway Economic Development Commission. Oeth said the town is in need of redevelopment and he supported the plan to transform the acres south of 16th Street into a racing campus.
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