Opportunities for Revitalization on Indy’s East Side

On June 28^th, Develop Indy partnered with the City of Indianapolis and IndyEast to host the second annual bus tour of the IndyEast Promise Zone’s sites zoned for redevelopment. Gathering a group of employers, developers, funders, and real estate professionals, the bus tour was designed to showcase opportunities for revitalization. Designated as a federal Promise Zone in 2015, the near eastside of Indianapolis is one of 22 nationwide locations that are high poverty and high capacity communities. In each Promise Zone, the federal government is working with local leaders to increase efforts to achieve neighborhood created goals and priorities. In the IndyEast Promise Zone, the John Boner Neighborhood Center is leading efforts for revitalization.

The IndyEast Promise Zone has five focus areas, including education, economic development, public safety, affordable housing, and job creation. As a part of the job creation component the Work IndyEast Committee was formed to focus on the goals related to job creation and workforce development. Those goals include: redevelop industrial sites into zones of commerce, decrease unemployment and increase household income for unemployed or underemployed neighborhood residents, and support infrastructure improvements as a top priority guiding employment and development on transit corridors.

The guided tour featured nine key industrial sites in the Promise Zone, including locations in Twin Aire and Sherman Park. These sites share several commonalities, including easy access to railroads, infrastructure, and a readily available workforce. The tour also featured presentations from the King Park Development Corporation, Near East Area Renewal, Local Initiatives Support Corporation, and the Department of Metropolitan Development, and both started and ended at Centerpoint Brewing Company.

“The tour was a great way to get these properties some needed visibility. With the team from Develop Indy and the City of Indianapolis that specialize in redevelopment in attendance at the tour, attendees were able to make valuable connections that are helpful after purchasing a site for redevelopment,” explained Ian Nicolini, Executive Director of Develop Indy and Vice President of Indianapolis Economic Development at the Indy Chamber.

To learn more about the sites featured on the IndyEast Industrial Bus Tour, contact Jon Berg at [email protected]. To learn more about how Develop Indy and the City of Indianapolis can help with redevelopment efforts, contact Jim Rawlinson at [email protected].