How much will the Indianapolis Cultural Trail affect real estate downtown? What do you think of
it? The $50-million bike and pedestrian path eventually will connect downtown's five cultural districts. Funding comes from
private donations, including $15 million from Gene and Marilyn Glick, along with federal grants. The project has attracted
tons of national attention, including a mention on Streetsblog, a popular transportation and urban planning blog in New York. The blog says Indianapolis
is "making what could be the boldest step of any North American city towards supporting bicyclists and pedestrians." A map
of the route is available here.
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Welcome to Property Lines, Indy's source for neighborhood real estate news. Your host is Scott Olson, IBJ's real estate beat
reporter. Edited by Cory Schouten.
How much will the Indianapolis Cultural Trail affect real estate downtown? What do you think of
it? The $50-million bike and pedestrian path eventually will connect downtown's five cultural districts. Funding comes from
private donations, including $15 million from Gene and Marilyn Glick, along with federal grants. The project has attracted
tons of national attention, including a mention on Streetsblog, a popular transportation and urban planning blog in New York. The blog says Indianapolis
is "making what could be the boldest step of any North American city towards supporting bicyclists and pedestrians." A map
of the route is available here.
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You guys have some "interesting" comments to say the least. I hope you will call in and share those opinions starting June 1. I'm looking forward to having you on the air.
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For those who let this information strike a nerve, remember that this is still the America that allows the freedom to achieve dreams and goals. Should you really chastise those who are given a perk on a deal that is supported by the consumer (that is until they don't like the deal anymore due to envy) or should the dream of rewards for working be looked at a little closer? I say lets stick to the deal, go to work,earn our keep, shoot for dreams, change our jobs to have that dream or shut up about others achievements ..............while we are still afforded this liberty of America !
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Three Magi
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Cats out of the bag. The object of the game is to get acquired. That means the company has no idea how to grow beyond a certain point. Email is a 1990s technology. I have laughed at this company since day one. Such a small bit player. If it was anywhere but here, it wouldn't be newsworthy.
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Esther, Indy has passed Chicago in the local government corruption arena. Don't downgrade us. We're No. 1 in the Midwest.
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Kudos all around
I think it is no coincidence that this was a grass roots effort. We should be looking to make more great ideas like this come to life.
The Cultural Trail truly deserves the World-Class title that the Peterson administration has set as a goal for our city's future. Hopefully it is the first of many projects equal to its caliber, vision, and boldness in downtown Indy.
Regarding real estate, perhaps it will garner enough international attention to draw some new development blood downtown. If we get another project like the Waverly or Firehouse Square, I'm going scream!
Note: an IU SPEA study showed positive real estate effects (i.e. positive change in market value above the regional mean change) for only some, but not all, Greenways/Trail corridors. Link:
http://www.sagamorepub.com/ebooks/jprabackissues/jpra223555/Article5.pdf
haha j/k, i know it's privately funded!
i LOVE the lights they are using to line the trail. I hope budget funds get met so that it actually makes it to fountain square!
It is difficult to predict the kind of economic impact the trail could have given its uniqueness, but i would venture to guess the positive impacts (in terms of economic, recreational, cultural) will be more noteable than any of us can imagine at this point.
It seems the general public in Indy has yet to understand how impressive and highly regarded this project is for the City (or maybe i've been refering too much to the Indystar forums). In any case, i think the results of building this trail will help us to get past the idea that soley building stadiums and roads will solve all our social/economic problems.
I think you may be confusing the meaning of the word culture in this case. It seems you adhere to a strict meaning of the word culture and associate it with excellence in world music, art, and theatre. To do this is to limit the use for the word.
In the case of the Cultural Trail, i assume the word is used deliberately to highlight the fact that the trail connects the downtown cultural districts. But the word is even more appropriate considering these cultural districts are reflective of life in Indianapolis throughout history and today. The trail will pass by historic landmarks, museums, parks, cafes, restaurants, nightclubs, etc. that not only provide insight into the history of Indianapolis and its people, but also how we live modern life here. In essence, the trail will showcase the culture of Indianapolis.
Why is it that people whom have had greater degrees of cultural influence always seem to find a way to put down those that haven't had a similar degree of refinement? Perhaps those who live in this fine city appreciate what we have more than you do. Granted, we would like to see greater emphasis on those areas you mention, but that doesn't mean we have to pretentiously (your word) put down a step in the right direction. You say you mean no disrespect, however that is exactly what you show. We do know we have the flaws you mention, but we would rather see the glass as half full.
I think the cultural trail will be like the monon - wildly popular - and spur development in the downtown. hopefully that will help the buzz of downtown - which is already heading in the right direction, especially as the new convention ctr opens in 2010, which should bring more visitors and thusly more restaurants, bars, etc. I am encouraged by Indian Garden and BARcelona moving to Delaware St.
More impressive commercial property values could be tracked over the last few years, especially for Broad Ripple, SoBro, and Carmel.
The Monon is especially popular because it's a neighborhood where people were already walking, like Broad Ripple. This bodes well for the Cultural Trail, which will allow existing walkers to travel longer distances, more safely, and linking together areas and amenities.
Speaking of safety, the Cultural Trail will be much more easy to police than the Monon, which again, will only serve to add to its appeal.
http://www.pps.org/info/bulletin/back_to_basics_in_transportation
One, Indianapolis will be celebrating its 200th birthday soon, and Indianapolis is actually known for the manchoir, sports, its revived interest in arts, monumental architecture, etc. Of course, this wouldn't be found in an uncultured new city.
Rant over.
I rode down the cultural trail a few days ago, it was pretty sweet, I can't wait untill its completely finished, I truely believe it will connect our neighborhoods and areas. Hopefully it encourages more pedestrian oriented development within Indianapolis.
spend $50 million.
How about not tear out existing sidewalks
and spend $50 million on missing sidewalks
along our arterial streets so that people
truly have alternative ways to reach these
cultural destinations - Just a thought.