5B: Support Downtown Residential Development
While we often think of downtown as a collection of visitors and commuting workers, it has been one of the fastest growing residential neighborhoods in Indy in recent years. In turn, this has supported an increasing mix of retail and restaurant offerings as well as things like grocery and hardware stores. Support the continued diversification of downtown to include dense residential uses at a variety of price points, including attainable workforce housing for the hospitality industry. Consideration in planning and investment must also compliment the needs of a large-scale event city like outdoor festival noise, traffic, or street closures.
Value to the CommunityDowntown neighborhoods provide a type of neighborhood unavailable anywhere else in the region, helping Indy remain competitive with other regions. An increase in the number of housing units attainable by downtown service sector employees reduces transportation costs for these workers and helps downtown remain a diverse neighborhood.
Value to the Hospitality IndustryAn increasing residential population base adds vitality to the downtown core at all hours of the day, supporting local businesses, keeping eyes on the street, and promoting interactions between visitors and locals. A healthy downtown economy is necessary to sustain the collection of visitor and cultural amenities it is home to.
- Partnerships Under Development