|
Market & Economic Analysis
<br /> i here is strong demand for
<br /> growth on multiple fronts in .a•r ANL,) . , .:
<br /> Downtown South Bend.
<br /> ',. E ' ,yjy : r n,,y Downtown South Bend stands at a critical turning point,with '�'A •1 _�
<br /> strong demand for mixed-use environments that cater to
<br /> •
<br /> ,
<br /> ;, •,. l f
<br /> diverse audiences.However,the existing built environment !• I —
<br /> faces challenges in fully meeting this demand in its current •I110 ,,_ , i - _- 7--``w'_,, c 4T�
<br /> form.As a result.the City of South Bend has a rare opportunity "` ,' 4, J} 3 1 }._. '-,
<br /> to activate interest in the downtown market and shape its - ` o•• • •;g , , I', ' 'I'`"`'.:,,. ---s-° �_ .
<br /> f.� •
<br /> future growth. , y e i �`i NL. .1- 44. _ f 3
<br /> The area already benefits from key differentiators that drive � ,i ,,, ' � jl r ,F;,�
<br /> visitation and activity.Downtown South Bend serves as a j �^ •.l •
<br /> V.
<br /> \
<br /> hub for entertainment,arts,and culture.with venues like "..
<br /> Four Winds Field and Morris Performing Arts Center drawing '.404 -y c :
<br /> -.4.0111"-
<br /> steady foot traffic that supports retail spending.Additionally, R1 qe t--
<br /> the presence of parks and public spaces enhances the appeal -•. Oat 1f
<br /> of the area.Downtown South Bend is also home to major _ c= „;,,
<br /> employers,including Beacon Health,that contribute to a stable - - • -t � ji `
<br /> r' r
<br /> employment base.The challenge now is integrating these � � � � Fou � � ,- -Winds Field drives visitation to downtown
<br /> assets into a cohesive,compelling experience that attracts 'Jo •
<br /> residents,employees,and visitors from across the region and '_• " . k beyond. •_ •
<br /> °, The Challenge
<br /> Several obstacles hinder this goal.Downtown South Bend ' r' - »► .
<br /> lacks sufficient housing variety to sustain activity throughout , 'i� R W ,q M. -r Integrating South Bend's assets into a
<br /> the day.Retail spaces are misaligned with demand in terms - cohesive, compelling experience that
<br /> of size and affordability,resulting in vacant storefronts even ,, r
<br /> in prime locations.Moreover,entertainment,arts,and culture �;•+. attracts residents, employees, and visitors
<br /> anchors attract visitors,but there is no seamless connection from across the region and beyond
<br /> between experiences:for instance,families attending baseball Baseline demand shows support for rental and for- g y
<br /> sale housing,institutional office,limited-service hotel.
<br /> games have limited nearby options to extend their outings. neighborhood-serving retail.including a grocery store
<br /> Analysis 27
<br />
|