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WIBC 9AM-Noon Podcast

Speedway to take action on long-unfinished hotel project across from IMS

WIBC 9AM-Noon Podcast

WIBC

News

4.61.2K Ratings

🗓️ 30 March 2026

⏱️ 2 minutes

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Transcript

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0:00.0

It's been a long-stalled hotel project, and there's finally some movement happening with it.

0:09.5

We saw it. We went to lunch. Where do we go? Bourbon and barbecue in Speedway?

0:13.9

Yeah, right there on Main Street and Speedway.

0:15.7

Fantastic barbecue, by the way.

0:17.2

Yeah, just down the road from this mess of a hotel that we're talking about right now.

0:22.1

Yeah, this building has pretty much been abandoned and it sits right across the street from the

0:27.3

main entrance to IMS. Prime location and residents and also businesses have had enough. I mean,

0:35.1

this building has sat unfinished since around 2019. And there's a good reason

0:40.9

that a lot of the local business owners and the residents are frustrated because it's just a stalled

0:46.9

project and it's an eyesore. And there could be a flourishing business there. Yeah. And so let's go

0:53.8

through the history of this.

0:54.6

By 2015, 2016, these developers pitched this big, mixed-use project.

0:59.9

Apartments and retail and parking in a hotel.

1:02.5

And in 2019, most of it was open.

1:05.9

The apartments opened.

1:07.0

A lot of the retail was there.

1:08.2

You talked about we just went, you know, some great restaurants there on Main Street and Speedway, and the hotel construction started. And then

1:15.4

it kind of died in 2019. It got caught up into this legal battle between the original

1:21.4

developer, new firms trying to take over, and then creditors that were suing over unpaid

1:27.0

debts. Meanwhile, the town of Speedway

1:28.8

really hasn't been able to do anything because they don't own the project. They're not

1:33.1

part of that as far as an ownership standpoint. Everything else has been torn up and kind of sidetracked

...

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