The city of Indianapolis and the Michigan-based RACER Trust have big hopes for the former downtown GM Stamping Plant site, and are moving forward with what they expect to be transformative redevelopment of the prominent property. RACER Redevelopment Manager Bruce Rasher says the trust plans to issue a call for offers in the next few weeks for the more than 100-acre site. RACER and the city say they are looking for developers that will capitalize on the White River to create a development, potentially including residential, commercial and outdoor recreational space.
The city says it has gathered in put from downtown stakeholders ranging from 16 Tech and the Indy Chamber to the Indianapolis Zoo and Indiana University Health about what they would like to see done with the property. Deputy Mayor Jeff Bennett tells Inside INdiana Business the common theme was that they would like to see "long-lasting, transformative development" that helps connect the area with the rest of downtown. Bennett says the one of the city’s main roles in the redevelopment is to assist with the transportation infrastructure piece.
In a progress briefing on the project, RACER says a new downtown riverfront will leverage billions of dollars in investment from a long-term combined sewer overflow control plan by improving public access to the White River and connectivity between the river and downtown neighborhoods. The city says the plan also plays into its strategy to create new recreation and fitness spaces for residents and visitors.
Back in 2013, RACER announced plans to dismantle and remove the buildings from the property and seek proposals for future use. At the time, RACER Trust Administrative Trustee Elliott Laws said the site’s potential, "with its location and countless associated amenities, is limitless." The property is located across the White River from Lucas Oil Stadium.