Downtown Indy Outlines Assets, Hurdles

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Picture Courtesy: Visit Indy Picture Courtesy: Visit Indy

Downtown Indy Inc. says growth continues, but challenges remain in downtown Indianapolis. Stakeholders, business leaders and community partners came together today for the 2018 State of Downtown event. The organization says housing options and job opportunities, particularly in the tech sector, are on the rise, but work remains on making residents feel safer downtown.

According to the report, more than 28,000 people now live in downtown Indianapolis. The organization says the number of downtown market-rate apartments has doubled since 2010, and there are more than 3,000 new units in the pipeline. 

Downtown Indy also reports 7,271 new jobs downtown, as well as 29 percent of all tech jobs in Marion County. In its survey of downtown Indianapolis businesses, the organization says more than 60 percent of respondents reported business was slightly (36 percent) to substantially (25 percent) stronger in 2017, compared to 2016.

The report also suggests downtown continues to be a popular destination. It says 90 percent of all residents surveyed visited downtown, with central Indiana visitors coming nearly three times per month. The study also reports about 72 percent average hotel occupancy, and nearly 77,000 parking spaces, which is an all-time high.

The main concern, according to the report, is that only 55 percent of residents say they feel safe downtown. In addition, the report suggests only 59 percent believe downtown is clean.

Downtown Indy Inc. says it is using the data to support its final push to gain support for a downtown Economic Improvement District. Last month, the organization launched a retail pop-up initiative called St'artUp 317, designed to revive first-floor retail in vacant commercial spaces throughout downtown.

You can see the full report by clicking here.

  • Perspectives

    • Hope is Not a Plan

      This is sobering. A local business broker in Indianapolis reports nine out of 10 business owners who want to sell are turned away. Of the one in 10 that does make it past the first analysis to sell, over half of those company owners don’t get the sale price they hope for or believe the business is worth. Bottom line, hope is not a plan if you want to sell your business.



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