1st Floor Occupancy
2nd Floor Occupancy
3rd Floor Occupancy
Current Downtown Stats
Does It Make Financial Sense To Revitalize Downtown For Bluffton?
We all want to see our downtown come back to life. We can all talk about why revitalizing our downtown makes sense. Bluffton NOW! wants to take this conversation one step further and show the financial reasons for downtown revitalization. The simple answer is YES it makes financial sense to revitalize downtown for the City of Bluffton. Let us show you how we came to this conclusion.
The Value of Downtown Bluffton
Downtown Bluffton, Indiana excluding the Bluffton Regional Hospital properties is assessed at $11,319,100 in 2023. This value is up from $10,021,700 in in 2021. The growth in the financial value of downtown is just one way to show hard data in why downtown is worth investing in. The high-density historic development style allows for a greater density of value compared to other portions of town. Growing the center of your city shows off the quality of your community and the value follows suit with that movement.
Jobs in Downtown
Downtown is already the location for hundreds of quality jobs, but with all of its vacant spaces, the job creation opportunities are limitless. The goal of revitalization is to help create opportunities for people to make a quality living doing what they love in downtown. More quality jobs mean that our citizens would have more money to spend creating a cyclical growth opportunity for our local downtown businesses. In 2023 we hit 119 downtown businesses which is up from 100 in 2021. There are still opportunities to grow this number as 1st-floor occupancy is 95%, second-floor occupancy is 71%, and 3rd-floor occupancy is 73%.
Value of Housing in Downtown
Housing downtown is an opportunity to create quality living spaces for our local workforce. The more quality housing we can create will open the door for more employees for our local employers. People who live downtown are more likely to spend money downtown and use its services. It would help improve the amount of income tax coming into our community versus sending it to neighboring communities from our local jobs.