5 Up-and-Coming Urban Neighborhoods in Indy
The housing market in Indianapolis began to rebound about three years ago. However, recently the market has boomed to incredible heights. Urban Indy neighborhoods that were once deteriorating are undergoing waves of revitalization. Young professionals, new families and empty nesters alike are seeking homes near the excitement of downtown living. While the Chatham Arch & Mass Ave, Broad Ripple Village and Fountain Square areas have experienced consistent and growing popularity, new trendy pockets are appearing on the Indianapolis map all the time. The following are five, slightly lesser known, up-and-coming neighborhoods for real estate buyers interested in a modern, urban lifestyle.
Fall Creek Place
This neighborhood north of downtown experienced an impressive revival in the 2000’s. The area features quaint newly-constructed as well as restored historic homes, with trendy neighborhood amenities. Homes are available at a range of prices, anywhere from $150,00-$650,00. Fall Creek Place is now a warm, diverse community enjoying walkable streets and nearby parks. The neighborhood also has a growing business community with markets, salons, yoga studios, shopping and entertainment. The Shoefly Public House and The Koelschip taproom are popular local gathering places. In addition, if a homebuyer somehow exhausted all the neighborhood’s resources, the area is only a few miles from the heart of downtown and a few blocks from the Fall Creek and Monon Trails.
Lockerbie Square is Indianapolis’ oldest surviving neighborhood and was the city’s first historic district to be placed on the National Register of Historic Places. Located on the northeastern border of downtown and less than a mile from the Circle, this historic neighborhood is on the rise. One of the biggest draws for real estate buyers is the area’s rich history. Many of the homes were built in the mid-1800’s, and the authentic Lockerbie Pub is a favorite nearby haunt. Additionally, buyers can get a bang for their buck in terms of space: most lots feature around 2,500 square feet. In fact, it’s not difficult to find a large home in Lockerbie for around $200,000. This could be the right neighborhood for a buyer who is looking for a renovation or restoration project. Essentially, Lockerbie Square features spacious homes and elegant, historic style all within walking distance of the vibrant, modern city center.
Fletcher Place & Holy Rosary
Fletcher Place and Holy Rosary are two neighborhoods that border the Indianapolis Cultural Trail just south of downtown. These trendy areas attract a variety of real estate buyers. Numerous recent developments such as the Mozzo Apartments attract younger professionals and buyers. This younger community enjoys a walking distance to hip eateries such as Milktooth and Bluebeard, shopping and a dynamic downtown nightlife. In contrast, these neighborhoods also include charming, historic homes for families seeking a more urban lifestyle. Fletcher Place and Holy Rosary have a lot to offer a variety of buyers.
This area is home to the oldest city park in Indianapolis, southeast of downtown. The park features a conservatory and lovely sunken gardens, injecting the urban environment with pockets of nature. Garfield Park is a family-friendly neighborhood with a burgeoning arts and cultural scene. In fact, in 2015, a nonprofit art collaborative invested significantly in the area, revitalizing the neighborhood as a cultural hub. The neighborhood ethos focuses on community involvement to encourage growth, beautification and cultural events. Residents can become involved through the Buerrello Family Center or the Garfield Park Arts Center. Garfield Park is truly a community.
The Bates-Hendricks neighborhood is on the rise for young professionals, first-time homebuyers and new families. Located south and east of Indianapolis’ commercial district, Bates-Hendricks is a brief commute to work and leisure downtown, as well as to Fountain Square. Indianapolis’s growing bike lane infrastructure allows professionals to bike easily to their offices. Nearby access to I-65 and I-70 are also available to other commuters. The community features an active neighborhood association, growing businesses and multiple green spaces. Bates-Hendricks mostly consists of one-to-two family residences but also includes some rental properties. It is a neighborhood of potential and development, an affordable pocket close to all the attractions of the downtown area.