A new report showed the Indianapolis Cultural Trail has helped generate $3 billion in assessed property value as the downtown attraction prepares to celebrate its 20th anniversary in 2027.
The report found residential growth near the trail has outpaced the rest of Indianapolis, while retail and restaurant activity continues to expand.
Kären Haley, executive director of the Indianapolis Cultural Trail, said the trail has become a destination for residents, businesses and developers.
“We’ve seen five times the population growth for residents in residential development along the Cultural Trail as opposed to the rest of the city,” Haley reported. “That’s where I think you really see why it’s attractive for developers and major projects.”
The trail now attracts more than 1 million users a year. Nearly half of downtown residents live within a three-minute walk.
Supporters called it one of Indianapolis’ most successful public investments but maintaining and expanding the trail will require continued public and private support.
Haley pointed out the organization plans to focus on long-term upkeep, public art and community programming as the trail enters its next chapter.
“Making sure that we continue to do that and invest in what makes the Cultural Trail unique, investing in our public art program over the next few years, investing in our community program and offerings,” Haley explained.
The report identified undeveloped property along the trail with the potential to add another $1.4 billion in value in coming years.
This article was written by Joe Ulery with Public News Service.
