RACER Trust: Indy GM Site Could Break Records

Posted: Updated:
(Image courtesy of RACER Trust) (Image courtesy of RACER Trust)
INDIANAPOLIS -

The redevelopment manager with RACER Trust says the potential scope of development proposed for the former GM Stamping Plant site in Indianapolis could be the largest in the trust's six-year history. Bruce Rasher says a call for offers that just ended has yielded four groups pitching intensive mixed-use projects on the vacant industrial land along the White River. Rasher says if any of the proposals come to fruition, it "could result in a truly transformative and generational project."

The trust reached out to more than 70 pre-qualified developers this time around. Previous plans for the more than 100-acre site fell through, but Rasher says the current call for offers is "much more focused" than in the past. Failed previous offers include a potential new location for the Marion County justice center and a private sector proposal that involved a 10,000-seat entertainment venue.

Rasher says the trust "could not have asked for a better public partner" than Mayor Joe Hogsett's administration and the City-County Council. "What they did over the course of the second half of last year was to undertake an extensive stakeholder engagement process to find out what the community envisioned for the use of the property," Rasher said. "But they also explored what the city would be willing to entitle it for and what, if any, public investments the city would make." He added, compared to past attempts, "there's much more certainty in the marketplace as to what the city wants and what the city is prepared to do in a public-private partnership with a buyer that they could select."

RACER Trust was created following the bankruptcy of General Motors and a court-approved agreement to create the independent trust to market, remediate and ultimately sell dozens of properties left behind in the auto maker's massive reorganization. RACER Trust says properties are currently on the market in Anderson, Bedford, Indianapolis, Kokomo and Muncie.

Previous plans for the more than 100-acre site fell through, but Rasher says the current call for offers and partnership with the city is "much more focused" than in the past.
  • Perspectives

    • Filing the Gap Between Background Checks

      Because I run a background screening company, you might be surprised when I confess that there’s a huge inherent flaw in background screening. The flaw isn’t in our services or our people, both of which are remarkably thorough. The problem is that a background screening captures a moment in time. Whether you screen someone as part of the pre-employment process or check on their background a decade after you’ve hired them, even the most effective background screening...
    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Shelly Timmons

      IU Health Names New Leader of Neurosurgery

      The Indiana University School of Medicine and IU Health Physicians have named Shelly Timmons to lead the department of neurosurgery. She previously served at Penn State Health Milton S. Hershey Medical Center as vice chair for administration in the department of neurosurgery and director of neurotrauma.  

    • (Photo Courtesy: Roche Diagnostics)

      Roche VP on List of Influential Women Executives

      An executive with Roche Diagnostics has joined an exclusive list of prominent and influential women, including Oprah Winfrey and Serena Williams.  Cindy Carlisle, Vice President of Human Resources at Roche Indy, was named to Savoy Magazine’s 2019 Most Influential Women in Corporate America. 

    • New Mixed-Use Development Planned for Fishers

      A new mixed-use development is coming to Fishers. Thompson Thrift Retail Group has announced the development of The Station, an office building that is part of an overall project that includes a 150-room hotel, a future retail pad along 116th Street and nearly 40 3-story townhomes.

    • Muncie Official, Business Owner Indicted for Fraud

      The district administrator for the Muncie Sanitary District and a Muncie business owner have been indicted on multiple charges, including wire fraud. U.S. Attorney Josh Minkler's office says Debra Nicole Grigsby and Tony Franklin were allegedly involved in a kickback scheme involving contracts for infrastructure projects.

    • Baby Boomers Are Impacting the Building Industry

      There are currently 78 million baby boomers in the U.S., making up 25% of the population and controlling 67% ($28 trillion) of the country’s wealth, according to the Living In Place Institute. AARP says 90% of people surveyed want to remain as long as possible in their homes. The majority of those 65 and older remodel their home to make it safer and accessible. In fact, 45% of all remodeling work is being done for people over the age of 65. With this amount of data supporting...