SPEEDWAY — A stretch of undeveloped land just off 16th Street is at the center of a growing debate: should it stay untouched and green, or become home to new development?
The more than five-acre wooded lot, known as the Lenoir Site, sits near the B&O Trail and is owned by the Speedway Redevelopment Commission. The town recently issued a Request for Proposals (RFP), allowing developers to begin submitting plans starting November 21.
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For some residents, the answer is simple: keep it green.
“We like the green area and would like to see a dog park,” said Max Bigelow, who lives in the nearby Cunningham neighborhood. Like many neighbors commenting online, he hopes the wooded land remains largely untouched. “It's going to save a lot of green space for the wildlife over there.”
Town leaders say development could bring needed revenue. Economic Development Director Kyle Markley told WRTV the timing is tied to Indiana’s new SEA Bill 1, which will reduce local tax income in the coming years.
“We know we're going to take a big hit with that,” Markley said. “This is trying to bring more people into Speedway so we can continue to increase our tax revenues and continue to provide the services that we do.”
Markley emphasized that nothing is final and the town is still open to ideas.
“We just all have a bad taste in our mouths when it comes to development in Speedway,” Bigelow said, pointing to the stalled Wilshaw Hotel project.
The town says transparency will be a priority throughout the process. Proposals for the Lenoir Site are due by January 16.
If Speedway decides to sell the property to a developer, officials say construction wouldn’t begin for at least a year, and completing any project could take two years or more.
