Ambrose, Glick Partner on Waterside

The Waterside project aims to transform 100-acres of the former GM Stamping Plant site. (photo courtesy of Ambrose Property Group) The Waterside project aims to transform 100-acres of the former GM Stamping Plant site. (photo courtesy of Ambrose Property Group)

Indianapolis-based Ambrose Property Group has announced a key partnership for the redevelopment of the former GM Stamping Plant in downtown Indianapolis. The commercial real estate firm is teaming up with the Gene B. Glick Co. to build and manage apartments as part of the $1.4 billion mixed-use redevelopment project. Ambrose says the partnership is also part of plans to catalyze "philanthropic and community-centric strategies to strengthen Indianapolis."

In October, Ambrose said plans for the 100-acre development included 1,350 housing units in addition to 620 hotel rooms and nearly three million square feet of office and retail space. 

"As we look forward to the next 10 years, we are doing so with a powerhouse leadership team and a group of respected partners – like Glick – who are fully committed to our community from both a real estate and a philanthropic perspective,” Aasif Bade, founder and president of Ambrose, said in a news release. "Community-involvement and charitable initiatives have always been core to Ambrose and we’re excited to increase our impact in these areas as the future unfolds."

Additionally, Ambrose announced key additions and promotions within its executive leadership team.

Jason Sturman will join the firm in July as chief investment officer. Sturman currently serves as chief investment officer of Indianapolis-based developer Milhaus and previously had more than 13 years in leadership roles at Duke Realty in Indy.

Ambrose says Isaac Bamgbose will also join the firm as senior vice president of development, leading the Waterside project along with other developments. Bamgbose most recently served as vice president of development for Hendricks Commercial Properties, leading the development of the Bottleworks District in Indianapolis.

"I couldn’t be more enthusiastic about the additions of Jason and Isaac to our team," said Bade. "I had the privilege of working with Jason at Duke Realty and his leadership will be paramount as we implement Ambrose’s vision for the future. Isaac has quickly made an indelible mark on our community and he embodies the civic-mindedness that is core to our mission."

Earlier this month, Ambrose announced the three finalists for the Waterside Design Competition. A winner is expected to be chosen in the fall. You can learn more about the Waterside project by clicking here.

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