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New life for stalled Speedway hotel project

Work suddenly stopped early last year
Posted at 6:55 PM, Sep 22, 2020
and last updated 2020-09-22 18:55:12-04

SPEEDWAY — Town leaders in Speedway are announcing a new partnership that would allow construction to resume on a major hotel project.

The partially constructed Wilshaw Hotel sits right across from the Indianapolis Motor Speedway on the corner of 16th Street and Main Street.

Construction on the hotel, which will be part of the Hilton Tapesty Collection, has been paused since the spring of 2019.

Town leaders say they developer, Loftus Robinson, experienced financing issues. That led to them missing deadlines for work stoppages, but now, a new partnership between Loftus Robinson and MHG Hotels is expected to get the project moving again.

According to Loftus Robinson, MHG Hotels will act as a manager and co-developer/partner for the project.

“We’re excited to have MHG join our project team and look forward to progressing as quickly as the environment allows,” said Drew Loftus in a press release. “This portion of our mixed-use development has had its challenges but we remain fully committed to seeing our vision through to fruition. MHG Hotels, along with the Town of Speedway, share in that commitment.”

Town leaders say they anticipate construction to begin in the spring.