Caleb Bauer and Margaret Fosmoe, South Bend Tribune
SOUTH BEND -- Amidst the ongoing boom in housing options in or near the city’s downtown area, local developers expect more of the same heading into the future.
The success of new developments and the ongoing urban-focused preferences by prospective tenants has continued to buck trends of decades past that saw people moving out of cities for a suburban lifestyle.
“I still think there’s room to grow,” David Sieradzki, vice president of Century Builders, said of downtown housing development. “We’re reaching that point where downtown is not just a place to go work, but a place to live as well.”
The trend isn’t unique to South Bend.
Fort Wayne, Indianapolis and cities throughout the country are also experiencing an urban revitalization.
The move to the nation’s cities has been led by a combination of young professionals and empty nesters, but local developers think young couples and families are also beginning to come around when it comes to living near downtown.
In 2013, market research firm Zimmerman Volk Associates projected that over the ensuing five years, South Bend’s downtown housing market had the potential to absorb 322 new apartments units.
According to a study published by Bradley Company, the downtown market added 33 new apartments in 2016, 113 in 2017, and now over 230 units are getting ready to open or are under construction, with even more units in the planning stages.