REI Investments agrees to buy former Indy GM plant property

General Motors-Recall

INDIANAPOLIS (WISH) — An agreement has been reached to sell the former General Motors Stamping Plant property west of downtown Indianapolis.

RACER Trust announced on Monday it has reached a deal to sell the 102-acre former site to REI Investments for an undisclosed amount.

RACER Trust says the city has set 56 acres at the western edge of the property as its preferred location for construction of a consolidated city-county justice center.

The remaining half of the property “would be developed pursuant to an agreement to be reached between REI Investments and the city,” a release from RACER Trust said.

Proposals for use of the other half of the property have included a 15,000-capacity outdoor concert venue and mixed use residential/office space.

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