Business

Developer scraps $1.4B project at old GM plant site

Posted September 28, 2019 7:00 am

The Associated Press

INDIANAPOLIS (AP) - A developer has scrapped plans to turn the site of a former General Motors Co. stamping plant in Indianapolis into a $1.4 billion mixed-used development.

Ambrose Property Group had intended to build offices, retail space, residential housing and hotels at the 103-acre site directly west of downtown Indianapolis.

But the company announced Friday that it's selling the site along the White River to focus on its e-commerce and industrial real estate business.

The site once housed the GM Stamping Plant, where the automaker at one time employed about 5,600 workers. The Indianapolis factory closed in 2011 and was largely demolished in 2013.

Mayor Joe Hogsett's chief of staff, Thomas Cook, says it's disappointing Ambrose Property Group chose not to proceed with the redevelopment project.

Article Comments

Article Categories
Business Content Providers Nation and World News

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.