Study: Need for Housing in Northeast Indiana is ‘Critical’
Galbraith says he is "incredibly humbled and honored" to take on the new position.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA new study of residential market potential for 10 counties in Northeast Indiana indicates that over the next five years, the region could support the development of nearly 16,000 new housing units. Michael Galbraith, director of the Road to One Million at the Northeast Indiana Regional Partnership, says there is a critical need for quality housing to attract and retain skilled workers.
The Northeast Indiana Regional Partnership, the Home Builders Association of Fort Wayne Inc., the UPSTAR Upstate Alliance of REALTORS worked together with Zimmerman/Volk Associates Inc. to commission the study.
The 10 counties featured in the study are Adams, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Wabash, Wells and Whitley.
As a result of the study, the Regional Partnership will gather a housing committee to develop regional strategies and solutions to current housing needs based on the data.
“For a number of years, and particularly after the recession that started in 2008, the ten counties outside of Allen haven’t had enough new houses, townhomes and apartments built to attract new residents to their cities and towns. Not only that, but the rehab efforts seen in places like downtown Fort Wayne and the West Central neighborhood haven’t yet occurred in large measure in our rural counties. This lack of growth has kept the value of existing houses low while the cost of constructing new houses continues to rise,” said Galbraith.
Data from the study can be viewed by clicking here.