SPEEDWAY, Ind. -- Nearly two years after the first announcement, demolition began on Main Street in Speedway for construction of a new hotel and apartment complex.
Work began Wednesday, near the Indianapolis Motor Speedway, to demolish an existing parking lot where the structures will be built. The site will be known as the Wilshaw project.
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 community members and visitors.
To help alleviate the loss of public parking during construction, a new 16-space lot was recently paved at the corner of 14th and Main streets.
Another 32-space permit-parking lot for Main Street business employees was paved just south of there. In December, demolition will be completed on another 12 to 14 space public parking lot on Main Street.
The Wilshaw project is a $36 million investment.
It’s hoped the apartments will be completed by the end of 2018. The plans are to break ground on the yet-unnamed hotel in the spring.
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