Town of Speedway buys PNC building to renovate for new government center

The town of Speedway plans to transform a former bank building into its new town hall through an extensive, two-year renovation project.

Speedway on Monday announced it has acquired the former PNC Bank building at 5300 Crawfordsville Road for an undisclosed price. The town will use the 40,000-square-foot building to centralize some of its existing offices, which are spread across several nearby buildings.

Speedway Town Council President Jeff Matthews said the building is an integral part of ongoing efforts to make interaction between citizens and the town government easier.

“Right now, residents have to visit several different sites to conduct business with the town,” he said in a written statement. “Purchasing the PNC building represents a unique opportunity for our community to have its government offices centralized right in the heart of town.”

When renovations to the building at the northwest corner of Crawfordsville Road and Lynhurst Drive have been completed, the new town hall will house offices from the existing town government building, Speedway’s annex building, the Speedway Police Department and several administrative offices for Speedway’s school district. The building also is expected to see the addition of space for community meetings.

Speedway town officials determined overhauls of existing facilities to accommodate its needs would be too costly. 

The town is expected to select an architect for the project in the coming months, with work starting soon afterward. The building is expected to be ready by mid-2020.

PNC is soon expected to move into the Marketplace development just east of Interstate 465 but will remain in the current building through a lease with the town until its new building is finished. Terms of the lease were not disclosed.

As for Speedway’s existing town offices, redevelopment plans are in the process of being drafted. The various facilities are scattered around Speedway, including locations along and south of Crawfordsville Road. The town also owns property from 15th Street to the B&O Trail on the west side of Lynhurst Drive.

Town Manager Jacob Blasdel said officials have high hopes for the existing town hall site because of its proximity to the trail as well as Leonard Park. He said the town is hopeful for the community input it will receive throughout the planning process.

“Centralizing our town offices to one location will ultimately benefit our residents and town employees, while creating new opportunities for redevelopment,” he said in written comments. “We’re grateful for a smooth and cooperative acquisition process with PNC and are looking forward to working with the community as we embark on this exciting project.”