Ambrose: Glick Partnership Adds to Community Focus

(Rendering courtesy of Ambrose Property Group.)

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The founder and president of Indianapolis-based Ambrose Property Group says the new partnership involving apartments at the $1.4 billion Waterside development highlights the project’s focus on community. The commercial real estate firm announced today that the Gene B. Glick Co. would build and manage apartments on the site. Ambrose Founder and President Aasif Bade says the decision to partner with Glick had a lot to do with the company’s track record not only with real estate, but its civic and philanthropic leadership in the community.

In an interview with Inside INdiana Business, Bade said the firm wanted to make sure the Waterside project had a strong emphasis on community building.

"For a number of years during our pursuit of the former GM stamping plant where 6,000 people worked at its peak, we knew from day one it was important to engage with the community and for us to build something that was not an island, for us to focus on true community engagement and placemaking with a special eye for inclusivity and equity, which are two big parts of Central Indiana Community Foundation’s new strategic focus," said Bade. "We felt like it was extraordinarily important for Waterside to be successful that it kind of kept the success of all surrounding neighborhoods."

Bade says community-focused development will be a central component of Waterside. The project, plans for which were announced last year, aims to transform the 100-acre former GM Stamping Plant in downtown Indianapolis into a mixed-use area that will include more than 1,300 housing units, 630 hotel rooms and more than three million square feet of office and retail space. 

Bade says they chose Glick for the residential housing portion of the project after conversations with several large real estate firms from throughout the country. He says the firm is continuing the check off the boxes when it comes to the planning process for the project, but expects to make more announcements regarding the development later this year.