SPEEDWAY, Ind. -- Work begins Monday on the long-awaited Wilshaw development on Main Street in Speedway.
The Town of Speedway closed on the sale of the property in the southeast quadrant of the roundabout on Friday.
The public parking lot will be closed off to parking starting Friday in preparation for work to begin on Wilshaw, which will be a mixed-use development consisting of a hotel and apartments.
The plan is for 90, one and two-bedroom apartments next to a 126-room hotel.
There will be dedicated parking for the hotel and apartments and 55 public parking spots for town residents and visitors.
“We are excited about the possibilities the Wilshaw project brings to Speedway,” said Jacob Blasdel, town manager. “The development will be steps away from the Indianapolis Motor Speedway, several racing headquarters and corporate offices, and our unique local restaurants and hospitality offerings. Combining that with its easy access to the interstate and downtown Indianapolis, Wilshaw will be an ideal place for travelers to visit and empty nesters and young professionals to live.”
The name “Wilshaw” comes from Wilbur Shaw, the last native Hoosier to win the Indy 500. Shaw won the race 3-times in 1937, ’39 and ’40. He was also a one-time president of the Indianapolis Motor Speedway.
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