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Wow – getting $36-40 per square foot in downtown Carmel is amazing. That’s about twice the going rate for office space in the region. At those levels you can begin building real high amenity space of the type customers want today.
Carmel was smart – they might have been the market leader, but they didn’t rest on their laurels. They developed a competing product (as it were) in their downtown that, sure, has caused vacancies … but they kept a fair number of those businesses in Carmel as opposed to going to Fishers or Indianapolis.
Can’t wait until legislators make that sort of thing illegal in a couple years.
I don’t think they’ll make it illegal…they’ll just demand IEDC built it in their small towns, 50 or 60 or more miles from Indy. Chili2, anyone…Kouts Kommercial Kampus…Mitchel Mercantile Mile…you know, the small town atmosphere married (at the end of a shotgun barrel) with big business…
hope these small towns have enough water…and electricity
They actually think lack of investment by the IEDC is why all their towns are dying off. They should buy a mirror if they want to understand why their towns are dying off. Here’s the last census results:
“Many rural counties scattered across the state lost population, including 11 that lost more than 5% of their residents. The biggest percentage population decline was in southeastern Indiana’s Switzerland County as it dropped 8.3%. Population declines were recorded for 49 of Indiana’s 92 counties as the state mirrored similar losses in rural areas across the country.”
“Five of the six Indiana counties gaining the most people over the past decade were in central Indiana. Indianapolis and Marion County grew by nearly 74,000, or 8.2%, to 977,000 people. Northern suburban Hamilton County was close behind as it added 73,000 people, or 26.5%, to 347,000. Overall, Indianapolis and its seven adjourning counties grew by 13%.”
I agree that Indiana should invest more money in improving all 92 counties. But that shouldn’t come at the expense of harming the areas that are growing. We’ve created a zero sum game where there didn’t need to be one.
https://apnews.com/article/indiana-census-2020-8e9e0534ec62187266b6d5c8e44d4c68
This sounds like an indirect, long-winded way to say they want to fill the area with more apartments.