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Locally based Ambrose Property Group has been selected to redevelop the former General Motors stamping plant property and is proposing a massive $550 million mixed-use project on the site at downtown's western edge.
RACER Trust, the entity charged with choosing a developer for the 103-acre parcel, announced its selection on May 2. It chose Ambrose from four proposals that were submitted.
Plans from Ambrose call for 2.7 million square feet of development, including 250 apartments in the first phase, office and retail space, a hotel and public green space.
The entire project is expected to take 15 years to complete, with 535,000 square feet of mixed-use construction occurring in the first five years.
"We pride ourselves on having bold ambitions and the drive to see them through, so when an opportunity to reimagine one of the iconic properties of our hometown was presented, we poured our energy and...