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Lol. I just listened to the IBJ podcast about this yesterday and wondered “how is that project going?”. Didn’t think it sounded like there was much of a concrete plan in place for this and it was a bit ambitious. So I’m not at all surprised.
I would like to see if Ambrose didn’t just lock the property up to try and flip it for a profit. IBJ, are you able to verify it’s purchase price in 2018 and what it is planning to list the property for now? Is the RACER trust now cut out of any decision making? Shouldn’t it have to revert to one of the 3 other bidders?
The Indy property card shows 3 million as the sale price of both GM stamping plant parcels in ’18. Not sure if there were other costs/transactions beyond the land parcel.
Obviously thats what they’re doing or they would have just sold it to the city and doubled their money.
Attention Apple and others. Here’s a great site in a growing city for your expansion.
A bunch of broken promises and profit – love it!
Idea: an expanded Eleven Park on the former GM Stamping Plant property.
That is probably the best location anyone could ask for. Plenty of room, proximity to existing sports stadiums, and still has plenty of room for multi-use housing/office/retail. I would have loved to see Indy11 in Broad Ripple, but I know it would never make it through all the controversy/NIMBY drama.
I’m just concerned that it would come with a giant parking lot, like Lucas Oil, and nothing would catalyze around it.
AT – Eleven Park would include market rate apartments.
The lack of development around Lucas Oil is due, in large measure, to there not being market rate housing in the area.
Because of this, the area has troubling supporting non event driven businesses.
I love the idea of Indy eleven.
Never did have much faith in this sham company. Why did they stop the boasting at 1.5 billion? Why didn’t they just say 3 billion in investment?! Bunch of scammers with no prior history of development anywhere near this scope. Bunch of scammers. Hope city didn’t give them any $$$.
that’s a ridiculous comment. the site is extremely complicated and I am sure they have worked very hard on it…and if Amazon would have even brought 5,000 jobs (vs 50,000) like they did in Nashville this site would have been kicked off perfectly.
Michael G.– it’s clear you have no knowledge of Ambrose or the complexity of this project. Sad, trolling commentary with no basis in fact.
Was an over-each by a rather new company in the first place.
Going to take someone with deep pockets and a plethora of partners to pull off that site. Indy 11 would be a decent fit, not sure the development around a stadium is substantial enough to support the cities vision for the site.
How is it Nashville Tenn gets projects like this done on a consistent basis? What are they doing that Indy isn’t or can’t? There’s around 30 cranes up in downtown Nashville. Nashville Yard is similar to the waterside project and they pulled it off. You Indy use to be the 12th largest city but now it’s 16th. I’m sure Nashville will surpass Indy soon and then you’ll see Indy probably drop to 20th. Indy needs bold investors. Where’s all the local billionaires with deep pockets? Places like Houston,LA and Miami all have people that’s from there come back and invest into their hometowns. Would love to see Indy go more vertical. Next we’re going to hear the Hilton scrap it’s pan am plaza project. Come on Indy we got to do better.
Great question. I’ve wondered the same. How is Nashville hitting economic
development home run projects out of the park and Indy is floundering.
I remember when Nashville was never a serious contender for economic development.
I think the big turn around came with the performing arts ( country music ).
When country music became very popular nationally, Nashville started taking off.
Which brings me to my next point. Indy needs to invest heavily in the arts – in functional, decorative, architectural, and performing.
We also need hunters to bring economic development & jobs to Indy.
Supposedly we have a business environment that is the envy. If that’s true, why don’t
we have major job commitments coming downtown. The aw shucks humble Hoosier
attitude is not working. We to have a plan and be aggressive in marketing our city
and stop waiting for potential developers to come to us first. We need to treat job
creation as a blood sport, winning is everything. No participation trophies.
Bottom line the Ambrose project was way to overly ambitious. For a project of that
magnitude to succeed, you have to have a lot of major job commitments to downtown,
which we are lacking and do not have.
Charlie P – so, how would you like a huge stadium, with its noise and hundreds of cars, plopped down in YOUR backyard? This is far different than when the NIMBY’s tried to stop construction of a modest, 4-floor apartment building behind a few Meridian-Kessler homes. (Oh gee, our back yards will be in the shadow for a few hours in the morning.) But a stadium in an area of narrow, already crowded streets – parents pushing kids in their strollers? Come on!
Sham dev involved with STV at 96/Springmill too http://www.springmillforum.com
The project was never going to take off as envisioned and promoted.
Totally agree
Big IF, Glenn H. Do you work for or are otherwise linked to Ambrose? Seem a little overly-sensitive. In every tv interview i saw with Ambrose, they always struck me as not very professional and pretty minor-league.
Know OF them yes but more importantly just a 30 year developer who appreciates how hard it is to pull something like this off. Needs a lot of perseverance, hard work and luck! Otherwise let someone else try a while!
Great points on Nashville. Have wondered the same thing. Indy seems to have lost its edge to N’ville. I don’t get it. N’ville is okay. It’s a bit over-rated IMO.
The city seems to continue to get real estate companies to come in and talk a good game to secure these assets at a lowball price then these great improvements become a pipe dream waisting precious time for the city and communities. Contingencies and escrow must be established from here on out!!! The old bait and switch now they want 250% of their investment. Another case of an Over promise and under deliver…