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RTV6 getting answers as deadline approaches for response from Speedway hotel developer

Posted at 6:00 PM, Dec 17, 2019
and last updated 2019-12-17 18:00:30-05

SPEEDWAY — It's been months since a major hotel construction project has see any action after the project came to abrupt halt after months of progress.

Some call the piece of land right across the street from the Indianapolis Motor Speedway the most valuable piece of land in the town, but progress on the partially finished project has stopped, and residents are wondering why.

"They worked like crazy in April and May and then it just basically stopped," Chris Hill, the co-owner of Dawson's on Main said.

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He says the sooner construction is started again, the better, but right now it's unknown when it may happen.

At the Speedway Redevelopment Commission Meeting Monday night, board members say the holdup is with Loftus Robinson, the developer of the hotel.

Town leaders say the agreement with Loftus Robinson allowed for work to stop for up to 180 days, but that deadline is around the first of the new year.

"It's a big piece of information and people want information," Hill said. "That's probably the most frustrating part for us."

RTV6 has requested a copy of the agreement with Loftus Robinson since town leaders have not said what will happen if the deadline is violated.