SPEEDWAY, Ind. — The Town of Speedway is going to be very busy place later this month with the triple-header weekend coming to the Indianapolis Motor Speedway Aug. 14.
The roar of race cars won’t be the only engines rumbling in town as heavy machinery broke ground Monday on a new development project in the heart of downtown.
“It’s coming together, but it’s taken time to tie all the pieces together,” Speedway Economic Development Director Tim Gropp said.
Ground was first broken at 1300 Main Street May 26. Since then, nothing happened on site, until now.
“We had kinda a kickoff, grand, ground breaking during May, which was when we have most of our visitors. We wanted to show progress there, knew everything was up and coming,” Gropp said. “There’s heavy machinery on site. We’re starting the infrastructure work as we speak, getting some of the ground work done.”
Delayed by final reviews, permits and documents with the developer, the three story, 1300 Block vision has finally begun. It will bring apartments, condos and business to Main Street with two restaurants — Le Peep and Vine & Table — already committing to open on the ground floor,
“We’re anxious for the development, but we wanted to make sure that everything was tied up and neatly done prior to starting,” Gropp said. “Then adding the residential component, just having more people who are on Main Street constantly is real valuable to us.”
Gropp says the town is split in two along Main Street, north and south, they hope the centralized location of 1300 Block will unify the racing capital of the world by bringing more business.
“It’s the heart of Main Street. So it’s really gonna help connect the north and south sides,” Gropp said. “We think the 1300 Block is that last major piece in the middle that will really help do that.”
Only steps to the north from the construction site sits The Spark, a coffee shop that first opened its doors Monday.
“It’s very exciting. Lot’s of new business. Just a lot of energy,” said Jeff Shields, co-owner of The Spark. “It’s gonna bring, with the apartments and condos, it’s gonna bring more people who are gonna call Speedway home. People who wanna live in this community, invest in this community.”
Shields is excited for the development and even more excited to serve the people who’ll soon live inside and gather at the pocket park which developers hope will be a popular gathering place for the town that will also be able to host events.
“We opened last week, and it’s been a lot of fun. Very excited about what the future is for us,” Shields said. “Come to Speedway. It’s a great place to visit. It’s an even better place to live.”
The privately funded, $6.5 million 1300 Block development project was initially scheduled to be built by next spring. The delays have pushed completion to fall of 2022.
Condominium spaces inside 1300 Block are currently available for sale on Zillow.