From Our Desk

Is Retail Making a Comeback?

Recently we have fielded a larger than usual number of inquiries from retail developers. From Garden Ridge taking over the former Sears building to several lot developments at I-69’s Exit 10 we have been asking ourselves ‘Is retail making a comeback?’.

Retail sales have been sluggishly on the road to recovery but there was a time here in Indiana and probably the country where retail development was at an absolute standstill. We still see vacancies sprinkled through the city on existing retail space but corporate retail development seems to be on the mend. Lending may still be difficult in the small business world but larger scale big-name companies are back to sprouting up here in Noblesville.

Do Roundabouts Hurt Commercial Corridors?

Some developers assert that roundabouts negatively impact commercial development. They claim that retailers prefer stoplights, and only stoplights, when it comes to traffic transitioning into their properties. We have a handful of roundabouts in retail areas—particularly along SR37. Since those roundabouts have been installed it has been proven that more traffic actually travels these routes because of ease of flow. Traffic volume, opposed to traffic control, is actually more important to commercial users—they locate where traffic tends to be higher in volume. 

In Golden, Colorado the community was even skeptical enough that the City promised to tear out the roundabouts if a planned neighborhood grocery store did not meet sales projections. However, four years after the roundabouts were completed, the South Golden Road corridor is the only area in the City reporting continued growth in sales tax revenues. They sited faster travel times, better access control, fewer accidents, and lower delay at business access points as contributors to economic activity. This seems to not only disprove the fact that roundabouts are harmful to retail and commercial corridors but to go even further and claim that roundabouts are actually good for business.

Community Development

Riverwalk Phase II

The Riverwalk development in downtown Noblesville is a long time coming. The project from start to finish has spanned 20 years and 3 Noblesville Mayors and the end is finally in sight. On October 11 the Board of Public Works approved Phase II to go out to bid pending approval by Duke Energy. These plans, which are available in the Community Development section of our website, include taking the Riverwalk north from the underpass beneath Conner Street/SR32, behind the Hamilton County Judicial Center, back down below the Logan Street bridge and along the White River up the hill to meet up with the pedestrian bridge that leads to Forest Park. Design elements include decorative concrete and railings much like those on Phase I of the project as well as landscaping and planting that will include over a dozen species of trees, shrubs and ground cover that will mitigate erosion, are hardy for wet or dry conditions and were chosen for their aesthetic foliage. We couldn't be more excited and look forward to completion in late 2012.