INDIANAPOLIS (AP): A developer wants to build a 15,000-seat outdoor concert amphitheater on the site of a closed General Motors metal-stamping plant near downtown Indianapolis.
 
REI Investment Inc. has reached a deal to buy the 102-acre factory site from the trust that's overseeing cleanup and sale of the site just south of the Indianapolis Zoo. The agreement calls for the developer to sell half the site to the city for a planned jail and courts complex.
 
REI president Mike Wells tells The Indianapolis Star that it's working on financing to build the amphitheater and parking for 5,000 vehicles. The Indianapolis Business Journal reports the amphitheater could cost $40 million.
 
The new venue would compete with the 24,000-seat Klipsch Music Center in Noblesville and the nearby White River State Park's 7,500-seat amphitheater.