Proposed mixed-use buildings; condos continue redevelopment momentum in Speedway

FISHERS, IN – Rebar Development announced today that is it proposing to redevelop the 1300 block of Main Street in Speedway, Indiana. The proposed $8 million mixed-use development would bring condos, office studios, retail store fronts, and rooftop amenities to Main Street. Rebar Development partnered with Hageman Group to acquire two key parcels along Main Street and seeks to work with the Town of Speedway to redevelop the block.

“We are very excited to propose our Main Street project to the Town of Speedway and introduce this opportunity to potential future residents and tenants,” said Shelby Bowen, Rebar Development President. “We look forward to working collaboratively with the Town Council and Redevelopment Commission on a project that would bring unique condo living, additional office and retail space, parking, and an inviting public pocket-park all in the heart of Main Street.”

The proposed redevelopment project would encompass the majority of the 1300 block on the west side of Main Street and include two, three-story brick buildings.  Built in two phases, each building will offer 6,000sf of retail and 6,000sf of office space on the first two floors, with residential condos on the third floor. A large roof-top deck will overlook bustling Main Street and offer residential and commercial tenants extraordinary outdoor space to entertain and enjoy. 

The condos will be perched on the top floors of the development and offer modern penthouse living in the heart of one of Indianapolis’ greatest entertainment districts.  Plans include six, one and two-bedroom condos with large, private roof-top patios, contemporary kitchens and furnishings, and covered parking.

“As redevelopment of Main Street flourishes, the district has become a popular, year-round destination for residents and visitors,” said Patrick Keller, realtor for CrestPoint Real Estate. “There’s a growing demand for quality housing options in Speedway, so condos in the district is very exciting.”   

The Town of Speedway’s redevelopment efforts have transformed Main Street into a thriving district with unique restaurants, shopping, and entertainment options—all within a few blocks of Indianapolis Motor Speedway. Rebar’s proposed Main Street project represents another addition along a corridor that would follow the opening of The Wilshaw—a mixed-use, apartment, and hotel development on the north end of Main Street and 16th Street.  

“We welcome the opportunity to work with Rebar and its construction partners on the proposed redevelopment of a key Main Street property,” said Tom Popcheff, President of the  Speedway Redevelopment Commission. “This proposal reinforces our belief that Speedway and Main Street has the capacity to support more residential growth, as well as mixed-use amenities, in the heart of our town.”

Construction on the first phase could begin as early as spring 2019 with completion slated for spring 2020. Interested commercial tenants or condo purchasers are encouraged to visit contact Shelby Bowen at (317) 670-7997.

Autumn Gasior