Hotel and Conference Center Planned for New Speedway Development
Officials announce Founders Square development at annual State of the Town address
SPEEDWAY, IN – Town of Speedway officials, together with project partners Rebar Development and Hageman Group, announced tenants for the new Founders Square development, including plans for a hotel with a 9,000 square foot conference center. The Town shared the news at the annual State of the Town address on Tuesday, Feb. 4. Founders Square is a 25-acre master development project located off I-465 at the northwest corner of Crawfordsville Road and High School Road.
“We are excited to see the Founders Square development move forward and look forward to the economic opportunity it creates for the community,” said David Lindsey, president of the Speedway Town Council. “As a gateway into Speedway, the investment will act as a catalyst for additional growth along the Crawfordsville Road Corridor.”
The Founders Square development is in a highly visible location with easy access to I-465. It also lies within an Opportunity Zone designated by Governor Holcomb. In addition to the planned Hampton Inn, Crew Car Wash has also committed to building a new location at Founders Square. Further investment is expected in the coming months, with possible uses for development including healthcare, office space, and retail space—including a national grocer.
“Project partners and Town officials listened to the feedback given by the residents during the planning stages to ensure the development will meet the wishes and needs of the community,” said Tom Popcheff, president of the Speedway Redevelopment Commission.
In 2018, the Town of Speedway hosted a listening session with residents to gather input on desired uses for the development, as well as public infrastructure improvements that should be made to the area. As a part of this development, the Town of Speedway will invest $5 million in infrastructure improvements and sitework, including constructing a new signalized intersection at 25th Street and High School Road.
“The Rebar/Hageman team is excited about owning and developing this important piece of property in Speedway. We appreciate our partnership with the Town and look forward to being a part of the momentum happening across Speedway and at IMS,” said Shelby Bowen, President of Rebar Development. “We are really pleased with the interest in Founders Square and expect to make additional announcements in the next few months.”
Infrastructure and utility improvements started last week and are expected to be completed by the end of May. The hotel and car wash are expected to break ground upon completion of infrastructure. Additional land up to 9+ acres is currently available for sale or build-to-suit. For inquiries, contact Scott Lindenberg at (317) 506-7885.
Watch a video about the development of Founders Square, originally shown at the Town of Speedway’s State of the Town address.