What's Next for Downtown Retail
Indianapolis is known for many things: fast cars, athletic prowess and world-renowned events. Recently however, we’ve been gaining recognition for our food scene, our interconnected, walkable Downtown and our booming tech industry. These attributes are exactly what we need to be touting as we welcome an additional $2.8 billion in development in Downtown.
Commercial/retail real estate isn’t as simple as “If you build it, they will come.” We have to be intentional about the types of operators, businesses and retailers we want to attract to continue to entice and serve individuals to ensure Indianapolis’ continued success. This is why, Downtown Indy, Inc. has partnered with the City of Indianapolis to create a Downtown retail strategy that will promote the wide range of new opportunities that are coming to the market. We are tracking over 300,000 square feet of first floor retail space either under construction or planned, as well as a strong customer base that is eager to make Downtown their main shopping destination.
Where we are now:
We are looking forward to the opening of Whole Foods along with Starbucks as its neighbor at 360 Market Square in the spring 2018. Whole foods will be joining the recently opened Kroger and Needlers bringing up the total number of Downtown grocery store to three! (This is BIG!!) Orange Theory Fitness is currently building out their space and will be a welcome boutique workout experience addition to our growing spectrum of wellness options. And we have more than 1100 hotels rooms planned or under construction and several new restaurants that will open in the first quarter of 2018 (Cigars, Steaks, Paleo, and Mexican to name a few)!
Let’s dream for a minute! As a downtown dweller I can tell you what I’d like to see:
URBAN FURNISHINGS: CB2 is at the top of my list. With so many new homes under construction (4,000 plus in Downtown), new residents need a destination for urban home furnishings. Keeping it local, wouldn’t Haus Love do great with Downtown outpost? And I know I am excited for West Elm, at Bottleworks, which is poised for success.
CLOTHING: Another area offering tremendous opportunity is the clothing industry. My list includes Zara. Zara doesn’t have a location in the state and the first one should definitely be Downtown. Anthropologie does great at their Northside location, it only seems natural that the second outpost should be in our neighborhood. Workout gear, shoes, toys, dresses – would love to see purveyors of all such things in the Downtown market!
Over the next few days about 10,000 retail decision makers will descend on New York City to attend the International Council of Shopping Centers (ICSC) Deal Making Conference. There will be a captive audience that is looking to connect with developers, retailers, cities and creative/next generation retailers. Downtown Indy, Inc. will be there too, telling our Downtown success story and sharing a new marketing piece we created with PATTERN. We’re excited for the opportunity to get in front of this unique audience and put Downtown Indianapolis on their radar..