Indianapolis Downs Closes on Land Deal

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Indianapolis Downs took a major step toward construction of the state's second pari-mutuel racetrack Nov. 13 when it closed a deal to purchase 152 acres near Interstate 74 in Shelby County. No purchase price was disclosed. The facility, which is slated to open Dec. 6, 2002, will cost $30 million.

"We're off to the races," Indianapolis Downs attorney Doug Brown told the Anderson, Ind., Herald-Bulletin. "The property is zoned, and we still have some local permits to obtain."

Paul Estridge Sr. held an option to purchase the property owned by the Robert E. Miller Irrevocable Trust of New Jersey and Dr. and Mrs. Ansel Schmalhausen of Indianapolis. Previously, Estridge tried unsuccessfully to build a racing facility in Shelby County.

During hearings held by the Indiana Horse Racing Commission in May, it was revealed that an electrical power substation was located on the property. Brown told the Herald-Bulletin an agreement has been reached with the substation's owner, Hoosier Energy. Brown said the substation will not be moved, but instead, electric lines will be relocated to circle the track.

Indianapolis-based Gilliatte General Contractors has been selected as general contractor for the project. In its presentation to the racing commission earlier this year, Indianapolis Downs officials told commissioners the track could be constructed in 54 weeks. In order to meet the established timetable, groundbreaking must take place in the immediate future. Brown said Indianapolis Downs is currently running slightly ahead of schedule.

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