Old GM Site Developer Envisions ’20 Minute Neighborhood’
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INDIANAPOLIS – Developers of the former General Motors Stamping Plant site near downtown Indianapolis say the 103-acre property is unlike any in the world. Ambrose Property Group Senior Vice President Andrew Greenwood says the uniqueness of the site offers a blank canvas to create a major, urban mixed-use development that will be a first class destination. "We looked internationally, we looked nationally we looked at Indiana and there’s nothing that compares," said Greenwood. "Nowhere else in the world can you find 100 acres right next to the river that’s in a major metropolitan city."
In an interview on Inside INdiana Business with Gerry Dick, Greenwood talked about creating a "20-minute neighborhood" on the site.
Ambrose closed on the purchase of the former GM site April 9 and says infrastructure work in advance of phase one of the $550 million project will begin this year.
The Indianapolis-based firm is already meeting with neighborhood groups and arts organizations to gather input that that will help shape the development.
"Community engagement has been a priority for Ambrose since the very beginning," said Mali Simone Jeffers, Director of Marketing and Community Initiatives. "We’re committed to listening to the surrounding neighborhood, The Valley, the neighborhood closest to the site, and collaborating and sharing information now and throughout the duration of the project."
Ambrose has said its initial vision for the site includes some 2.7 million square feet of residential, office, commercial and retail assets that could take 15 years to fully develop.
The site is also viewed by many as a prime property in Indianapolis’ bid to land HQ2, Amazon’s $5 billion second headquarters project. "What an exciting opportunity for Indianapolis and really for the state of Indiana," said Greenwood. "Right now it’s a little premature and so what we’re really looking forward to is collaborating with a focus on making this site a world class destination."
View the full interview: