INDIANAPOLIS-a Developer behind a proposal to rebuild the site of a former GM stamping plant on the southwest side of Indianapolis has turned down an offer and plans to continue selling the property.

In an emailed statement, Ambrose Property Group founder and CEO Aasif bade said the company plans to focus its business on e-Commerce and industrial real estate.

“We believe that a focused approach to one segment of real estate development is best suited to our investors, our customers, employees and the communities in which we invest,” Bade said in a statement. “As part of this decision, we plan to continue selling our mixed-use and office projects, including waterside.”

Developers originally said waterside would be home to apartments, restaurants, retail and more on the 103-acre site.

“Waterside, located in an area of opportunity, is poised for success and ready for long-term and large-scale vertical development,” Bade said. “Ambrose expects to see significant local and national interest in this opportunity.”

Wop Osili, President of the Indianapolis city Council, issued the following statement:

Thomas cook, chief of staff to Indianapolis mayor Joe Hogsett, released the following statement:

State Rep. Justin Moed, D – Indianapolis, issued the following statement: