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Residential demand is growing across Hendricks County, and Plainfield in particular is preparing for growth reminiscent of the north-side suburbs.
Across Indiana, we’re seeing that the shift to working from home fueled dramatic increases in housing costs earlier in the pandemic. In the long term, it has enabled more workers to live in the surrounding suburbs where housing opportunities are plentiful and building is easier.
Since 2010, Hendricks County’s population has increased by more than 3,000 residents per year. Notably, it has worked to add infrastructure and quality-of-life amenities to accommodate the influx of residents. However, the area deserves attention from developers and business owners, too.
Here are some reasons people need to pay more attention to the west-side suburbs:
◗ Housing market growth plus new developments
Hendricks County household growth has increased 2.3% per year while the number of housing units has increased just over 2%, leaving a housing-supply deficit. In Plainfield, Hobbs Station and The Bomar Project by Olthof Homes will provide multimodal and multigenerational housing opportunities and help anchor the revitalizing east side of the town. Hobbs Station will be a district-style concept that connects urban-suburban lifestyles with commerce and community.
Plainfield household growth is expected to increase 1.5% per year, or more than 200 households per year, through 2027. There are approximately 3,100 units in Plainfield, and we anticipate 1,800 new homes by 2026.
◗ Revitalization plus additional amenities
In Plainfield, specifically, we’re seeing new projects and developments take shape that bring diverse retail, lifestyle, restaurants, housing opportunities and investment to the west suburbs. Revitalization of historic buildings, like the former Prewitt Theater, provides new restaurant and entertainment spaces within the growing town. Multimillion-dollar mixed-use developments such as The Barlow add much-needed dense housing to the downtown sector, while a new performing arts center under construction and a brand-new government center bring unique cultural offerings.
◗ Community investment
A key component to strong and steady growth on the west side is local companies investing their dollars back into the community. Developers such as New City Development are bringing new opportunities to the area by partnering with the municipality to connect trails and high-end amenities that will further the town’s growth and desirability.
Duke Energy also recently selected a site in Hendricks County for its Site Readiness Program, which helps prepare business and industrial sites for economic development investments.
◗ Park advancements
We‘re also seeing a great deal of energy going toward parks and infrastructure to create more walkable towns. The Vandalia Trail—one of the most prominent walking trails on the west side—will undergo a 2-mile extension that will expand into Plainfield. The trail network will connect to a public park at Hobbs Station with pickleball courts, a playground and open space for festivals and events.
Additional infrastructure—including sidewalks, landscaping, hardscaping, utilities and stormwater facilities, as well as new roads and parking—will accommodate the new developments.
As Hendricks County sees continued advancements and investment in the community, the town of Plainfield is poised for major growth and is emerging as a market and suburb to watch.•
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Tikijian is an executive vice chair in the Indianapolis office of Cushman & Wakefield.
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eh, just more suburbia. nothing to write home about.