Ambrose Amps up Ambition For Old GM Stamping Site

Updated:
Andrew Greenwood is senior vice president of development at Ambrose Property Group. Andrew Greenwood is senior vice president of development at Ambrose Property Group.
INDIANAPOLIS -

An Indianapolis-based developer has greatly expanded its original investment plans for the city's former GM Stamping Plant site. Ambrose Property Group's vision now includes projects totaling nearly $1.4 billion, more than doubling the $550 million scope detailed last year. During a community event Friday, the company and Mayor Joe Hogsett announced the name of the more than 100-acre, downtown district: Waterside.

Plans now call for 1,350 housing units, 620 hotel rooms and nearly three million square-feet of office and retail space. Ambrose President Aasif Bade calls it "a once-in-a-generation opportunity to transform how we view downtown Indianapolis." The developer wants White River Parkway to be re-routed so it will run through Waterside and better open up the riverfront with a promenade and recreational area.

Bade adds "it's truly unique with more than 100 acres in an urban core, adjacent to a major waterway and in close proximity to an international airport and major interstates. This area will become a thriving new downtown district, complete with diverse housing and greenspace, restaurants, public art and innovative corporate workspaces."

Mayor Joe Hogsett called the project "transformational" for the city. He added "for decades the GM Stamping Plant was a hub of innovation, community, and work for the near south west side of Indianapolis. Now, through the work of Ambrose, we are seeing momentum that will spur revitalization and growth, engaging neighbors that have generational ties to the area."

Inside INdiana Business will have more on the development online and in our enewsletters.

  • Perspectives

    • "Wood" You Consider Investing in Timber?

      Looking for an untraditional way to diversify your traditional stock and fixed-income portfolio? If so, try thinking outside the typical realm of investable assets. Don’t know where to start? How about going against the “grain” and investing in timber? Why Trees? Investing in timber can yield a number of benefits. The main draw of having timber in your portfolio is its low, long-term correlation to traditional investments such as stocks and bonds. Low correlation...

    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

    • 1SI executives Matt Hall and Wendy Dant Chesser talked about the project on Inside INdiana Business.

      Momentum Building at 'Hot Spot' River Ridge

      As economic development officials in southeast Indiana welcomed news last week of Louisville-based PharmaCord's plans to invest $52 million and add up to 850 jobs at the River Ridge Commerce Center, they were quick to add there is more development on the horizon. River Ridge is a sprawling, 6,000 acre park located between Jeffersonville and Charlestown that was once home to the massive Indiana Army Ammunition plant and thousands of jobs. Today more than 50 companies call River...

    • Foppers CEO Michelle Leffurt (left) and Executive Director of National Sales Emily Gillam

      Logansport Company Selected in Walmart Open Call

      A Logansport-based dog treat manufacturer is one of several companies chosen to have their products sold on Walmart shelves. Foppers Pet Treat Bakery took part in Walmart's annual Open Call event, in which hundreds of small businesses and entrepreneurs pitched their products for the chance to sell them in stores. Foppers Chief Executive Officer Michelle Leffert says she was shocked to hear she was selected during the two-day event at Walmart's headquarters in Arkansas.

    • Colts Name Overton As Producer

      The Indianapolis Colts have named Larra Overton as the team's new producer and on-air talent. Overton currently is a sports reporter and anchor for Fox59 WXIN/CBS4 WTTV. She will serve as producer for Colts Productions and will serve as the television sideline reporter for preseason broadcasts and radio sideline reporter for regular season games. Overton holds two degrees from Indiana University. 
    • Bethel University Names CFO

      Bethel University has named Jerry White as vice president for administration & finance and chief financial officer. White most recently served as COO at Culver Academics and will begin his new duties on August 19. He has nearly two decades of business and finance career experience with prior positions as vice president for finance and administration at Albion College and as vice president at Spring Arbor University. 

    • Stacy Deitrich

      MutualFirst Adds Deitrich

      Muncie-based-MutualFirst Financial has appointed Stacy Deitrich loan originator at the bank's subsidiary, Summitmortgage in St. Joe, Michigan. She has worked in the mortgage lending industry for ten years.