In this bicentennial year for Indiana, one of the state’s most iconic locations celebrates its own moment in history this Memorial Weekend – the Indianapolis 500. And Scannell Properties is well poised to be cheering from the sidelines, as the commercial real estate developer in 44 states and 2 Canadian provinces are headquartered in Indianapolis and proud of their hometown.
This year marks a very special year for Scannell Properties, as Dreyer & Reinbold – Kingdom Racing announced on May 25 that Loftus Robinson and Scannell, both Indianapolis-based commercial real estate development firms, join as major associate partners for the No. 24 Gas Monkey Energy Chevrolet-powered entry driven by young Sage Karam for the 100th edition of the Indy 500 set for this Sunday May 29. The announcement also heralds a partnership with Loftus Robinson to develop the new Wilshaw Project set for the corner of 16th Street and Main Street in the Town of Speedway, Indiana – just across the street of the world’s greatest race track.
Wilshaw will be the northern anchor to Main Street, a $40 million mixed-use project which includes luxury apartments, a 120-room hotel, retail and parking on the 3.4 acre site. Groundbreaking is scheduled for late 2016.
The Town of Speedway and its Main Street has turned into a vibrant and growing destination. A variety of new businesses are open or under construction including restaurants, office space, breweries, and a go-kart facility.
“This is an opportunity and partnership we’re really excited about at Scannell, said David Ravensberg, Director, Scannell Properties. “The 100th running is iconic in the sense it celebrates the past and places a spotlight on the revitalization efforts nationally. A lot of work has gone into creating today’s Main Street, the Wilshaw team is excited to play our role to add to the legacy that is Speedway.”
“Loftus Robinson and Scannell Properties have a very exciting project with the development of Wilshaw in Speedway and we are very pleased to have them with us as a partner in the Indy 500,” said Dennis Reinbold, team owner of Dreyer & Reinbold – Kingdom Racing. “Both Scannell and Loftus Robinson have been wonderful to work with and we hope to put them in victory lane on May 29 with Sage at the wheel.”
The 100th Indianapolis 500 is scheduled to begin at 12:10 p.m. EDT this Sunday, May 29.