July 18, 2008

The Speedway Redevelopment Commission today announced that it has retained Mansur Real Estate Services, Inc. and Greenstreet Ltd. as the Master Developer for a major redevelopment project in the Town of Speedway.  Several shopping centers, motels and apartment complexes are located in the redevelopment area that spans nearly 300 acres on the northwest side of Speedway, east of I-465 along Crawfordsville Road.

Mansur and Greenstreet are also currently partnering as the Master Developer of the Speed Zone, a 400-acre redevelopment area south of the Indianapolis Motor Speedway.  The additional area announced today brings total Speedway redevelopment effort to nearly 700 acres.

"We're excited and eager to increase our involvement in helping to develop the future of Speedway," said Chuck Cagann, president of Mansur.  "We applaud the vision of Town officials, and appreciate the opportunity to help them achieve that vision."

The second redevelopment area is currently being planned by Indianapolis-based American Structurepoint, Inc., which was also responsible for the master plan of the Speed Zone.  Principles of the redevelopment strategy include:

• Foster a safe and secure mixed-use neighborhood;
• Develop a diversity of housing options;
• Create a regional shopping destination, which complements the redevelopment efforts within the Speed Zone;
• Integrate into a multimodal regional transportation network; and
• Increase walkability and transportation alternatives.    

Mansur, Greenstreet and Structurepoint will be engaged in a formal master planning process for the area, which will include various opportunities for public involvement.

More information can be obtained from www.redevelopspeedway.com

About the Speedway Redevelopment Commission

The Speedway Redevelopment Commission (SRC) is comprised of five volunteer members who are residents of Speedway.  The SRC is committed to fostering economic growth in order to redefine the Town of Speedway as a 21st Century community, which simultaneously recognizes its heritage and embraces its future.

About Mansur Real Estate Services, Inc. and Greenstreet Ltd.

Founded in 1982, Mansur Real Estate Services is one of the Midwest's leading real estate development companies, and specializes in serving the development and historic redevelopment needs of municipalities and private landowners, and assisting companies with build-to-suit and turnkey development services.  Founded in 2004, Greenstreet Ltd. is a real estate development and advisory firm, which leverages sustainable strategies in the planning, development, marketing and sale of urban redevelopments nationwide.  Collectively, Mansur and Greenstreet have developed and sold nearly $1 billion in real estate throughout the United States and abroad.