Former GM Site Ripe For 'All Different Types' of Development

Posted: Updated:
(Rendering courtesy of Ambrose Property Group.) (Rendering courtesy of Ambrose Property Group.)

The company poised to lead a massive redevelopment of the Indianapolis site where a General Motors stamping plant once stood says there is "not a playbook" anywhere in the world that could guide the vision for the project. Senior Vice President Andrew Greenwood says the purchase of the 103-acre property continues progress on a "once in a generation opportunity."

The development could involve upwards of half-a-billion dollars in investment and take shape over the course of 15 years. Greenwood would not provide specific information about parties interested in locating to the site, but said developers are "open to all different types" of business, residential and cultural options.

In an interview with Inside INdiana Business, Greenwood discussed the expected timeline along the White River. He said infrastructure work, including a new White River Parkway, could begin in the coming months and building construction could be visible soon after. "We haven't ruled anybody in or anybody out at this point in time," he said, "we're really just getting started with the development and just starting to have those conversations."

Greenwood calls the property a "blank slate" and says it provides dynamic possibilities for development. The $92.5 million first phase of the project is expected to involve 1,000 construction jobs and Ambrose expects it will lead to 900 permanent jobs when it's complete. The property was cleared in 2014 by Michigan-based The RACER Trust, which was created to deal with properties left vacant by GM's bankruptcy during the Great Recession.

The site is located on the near west side of the city just outside Indy's inner core. Greenwood says the developer has engaged hundreds of stakeholders throughout the multi-year process that resulted in the acquisition. He says feedback will continue with community and city leaders as the project rolls on.

In January, Indianapolis was named one of 20 finalists for Seattle-based Inc.'s (Nasdaq: AMZN) second headquarters, which could attract more than $5 billion in investment and up to 50,000 jobs. When asked by Inside INdiana Business if Amazon had reached out to Ambrose about the property, Greenwood replied with: "We think it's a great opportunity and we're really proud of Indianapolis and just continue to work with all the organizations, residents and officials to transform this city." Amazon has not announced a precise timeline for its decision, other than to say it is expected this year.

In an interview with Inside INdiana Business, Ambrose Property Group Senior Vice President of Development Andrew Greenwood discussed the expected timeline along the White River.
  • Perspectives

    • Want Your Startup to Move Faster? Use Two Military Strategies

      Speed is everything at a startup. So is discipline. By that, I mean the discipline to stay focused on the most important objectives, to do the late nights and early mornings when we don’t want to do them, and to see the results of our work as objectively as possible. It’s not easy, especially when speed and discipline often seem at odds. We think about this a lot here at Powderkeg. How do we move as fast as possible while remaining as disciplined as possible? We recently...



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


  • Most Popular Stories

    • Infosys to Break Ground at Airport Site

      State and local officials will Friday break ground on a new U.S. Education Center for India-based Infosys. The company is initially investing $35 million to transform more than 70 acres of the former Indianapolis International Airport terminal site into a training center and 250-person residential facility totaling 125,000 square feet.

    • Infosys Hub to 'Reskill' Workforce

      India-based Infosys, which today broke ground on a $35 million U.S. Education Center in Indianapolis, says the campus is focused on preparing the American workforce for the technology jobs of the future. "Continuous learning and reskilling are core components of Infosys' DNA," said Chief Operating Officer UB Pravin, adding the company will use the facility on the former Indianapolis International Airport terminal site to train 10,000 new American hires.

    • Renovations Coming to Edinburgh Premium Outlets

      Renovations are coming to Edinburgh Premium Outlets as plans have been announced by Indianapolis-based Simon Property Group Inc. (NYSE: SPG). Construction is set to begin this fall. The multi-million dollar plans include an archway sign, two new courts visible from I-65 on the east side of the property and a food truck plaza on the southwest corner.

    • 'Proven Leaders' to Head New Two-Year College

      Marian University has named Jeffrey Jourdan executive director of Saint Joseph's College of Marian University - Indianapolis, its new two-year institution. Michael Nichols will serve as associate director and dean of SJC@MU. In October, Marian and Saint Joseph's College in Rensselaer detailed a partnership to launch the school near Marian's Indianapolis campus. St. Joe suspended operations in 2017 after massive debt responsibilities forced the school into an attempted rebirth.

    • Governor Eric Holcomb in April nominated 156 Indiana communities and neighborhoods to be Opportunity Zones. (image courtesy WTHR-TV)

      Portal to Promote 'Opportunity Zone' Investment

      The Opportunity Investment Consortium of Indiana has launched an online portal in hopes of attracting investors for the state's Opportunity Zone neighborhoods. The Opportunity Zone initiative, part of the federal Tax Cuts and Jobs Act, aims to spark private capital investment in low-income urban and rural communities. Governor Eric Holcomb in April nominated 156 Indiana communities and neighborhoods to be Opportunity Zones. You can see the full list by clicking here. The state a...