Mixed-use Projects Remaking the Midwest

INDIANAPOLIS—The downtowns of the nation’s core cities have increasingly become beehives of around-the-clock activity as many younger people have decided the suburban lifestyle isn’t for them. But this penchant for downtown living has truly become a national phenomenon, and spread into secondary cities—especially those in the Midwest, such as Indianapolis—which have seen a surge in mixed-use urban development and population growth, according to a new study by CBRE Group, Inc.

“It’s primarily younger professionals who are moving into downtown Indianapolis,” Dan Richardson, senior vice president of CBRE in Indianapolis, tells GlobeSt.com. According to CBRE’s study entitled “Resurgence in Midwest Secondary Markets: Implications for Occupiers,” Indianapolis’ urban core has seen a 59.7% population increase in the last ten years, and currently boasts $1.4 billion worth of commercial real estate under construction.