IEDC rebrands, updates master plan for former GM stamping plant site
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The state’s economic development arm plans to request a modification to the zoning for portions of the former General Motors stamping plant site west of downtown Indianapolis in a bid to attract new users focused on research and development, housing, office and retail.
The Indiana Economic Development Corp. said Thursday it intends to seek multiple buyers, partners or users for 30 acres at the site, largely surrounding the $150 million headquarters for Elanco Animal Health Inc. that is set to open in 2025.
The IEDC has also rebranded the business campus to Levee—a nod to both the site’s proximity to the levee along the western bank of the White River and the word’s Latin root “levare,” which means “to lift up.”
A conceptual plan for the proposed infill development calls for up to 550,000 square feet of research and development hub space, 1.6 million square feet of housing space, 1.2 million square feet of office space and 290,000 square feet of retail space. The development is expected to include more than one dozen individual land parcels.
“Indiana’s Levee district embodies our strategic focus—to build industries of the future and vibrant communities that enable all Hoosiers to prosper,” Indiana Secretary of Commerce David Rosenberg said in written remarks. “This site represents a unique opportunity to transform the state’s capital city, expand downtown Indianapolis and cultivate a new, innovative and bustling ecosystem. We can’t wait to partner with like-minded, forward-thinking businesses and developers to bring this vision to life and impact the city’s landscape for generations to come.”
The site has been called the OneHealth Innovation District since May, when Elanco and Purdue announced plans to partner on a shared-use facility with a goal of turning the campus into a research area for human, animal and plant health sciences.
“The Valley Neighborhood has long understood, given its location and geography, the importance and significance of development in that historic part of our neighborhood now commonly referred to as the former GM Stamping Plant,” Jay Napoleon, president of the Valley Neighborhood Association, said in remarks provided by the IEDC. “With that knowledge, we appreciate the concept of ‘Levee,’ which sets the stage for a true expansion and understanding of what it means to live, play and work in downtown Indianapolis.”
The IEDC purchased the former stamping plant site in 2020 for $22.5 million as part of its deal to lure Greenfield-based Elanco downtown. The company’s new headquarters will occupy about 23.5 acres at the site. Another 15-acre portion of the property has been earmarked for an expansion of White River State Park.
The updated master plan calls for a cluster of technology-focused companies on 12.5 acres to the immediate west and south of the Elanco property, as well as 3.15 acres of university and mixed-use space for the Elanco-Purdue partnership.
The southernmost portion of the property, as well as parcels further west, are slated for mixed-use development that could include apartments, office and retail, totaling 15.2 acres.
Separately, the northern portion of the campus is highlighted as a potential data center, on 8 acres, with potential room for expansion on another 4.15 acres to the parcel’s east and west. No specific project has been announced for that site.
A timeline and details for the state’s effort to rezone portions of the site were not immediately available. Over the past four years, the IEDC has worked closely with the city of Indianapolis to rezone and replat most of the site to accommodate a variety of uses, including housing, retail, office and light industrial for various parcels within the district.
The state has been toying with new names for the property for more than a year. In May 2023, it offered helicopter tours of the site to select business leaders attending the Indianapolis 500, at that time referring to the site as Xcel Indy.
Earlier this year, the state issued a request for proposals for up to 51 acres of the site for purchase, at that time marketing the property as The Levee. The agency said in September it hadn’t yet secured a buyer or buyers, noting it was looking for a significant return on its investment of more than $76 million in the site since its acquisition.