At the beginning of April, The City of Westfield released the first issue of their Economic Development Newsletter. This is a great gesture by the City to reach out to the existing businesses in the community and excite potential new businesses to launch in Westfield.
The PDF contains many exciting facts about Westfield, with the most beneficial facts to our developments being the Total Building Permits by Year. From 1998-2007, there were nearly 8,000 building permits within Washington Township, the township the City of Westfield is located in. In 2007 alone there were 839. Development in Westfield has been strong over the past ten years and appears to not be slowing down.
Economic Development Newsletter April 2008 PDF
On February 19th, 2008, Westfield Washington Schools purchased approximately 21 acres of land for a future elementary school within the Eagletown PUD. The site is currently located on Casey Road, just north of 186th Street. Construction of the school is some years off, but it will be completed before all of the residential components of Eagletown are sold off or built out.
Today Beau Wilfong, Chairman of Wilfong-Kreutz Land Development, spoke to members of the Westfield Chamber of Commerce at its monthly Economic Development Meeting. The focus of the presentation to the standing room only crowd was on the growth and development expected to enhance Westfield over the coming years.
Wilfong touted several factors that place Westfield in a favorable position to accommodate commercial development. The high quality of schools in Westfield and Hamilton County was cited as a primary factor in how well the area has weathered the slow down in housing growth. Housing in the Indianapolis market is down nearly 25 percent from 2006 to 2007, Hamilton County is down only 15 percent, and Westfield is even over the same period. It is the continued growth in housing and consequently population that attracts the retail and service businesses the community would like to see locate in Westfield.
As Carmel continues to near build out, Westfield will be the primary benefactor of continued demand for upscale housing (which it is already seeing with developments such as Bridgewater and Viking Meadows). Educational attainment and income are the primary components of a Demographic, which is necessary to attract major corporations and retail amenities into a community.
Another factor is how city officials have stepped up to provide public infrastructure investment by expanding water and sanitary treatment capacities and a $14 million sanitary interceptor project. These financial commitments support the goals and objectives of the updated Comprehensive Plan which calls for regional retail development along the west SR 32 corridor with real estate adjacent to the US 31 corridor reserved for office and technology developments.
The State of Indiana's investment in State Road 32 this year will improve access to Oak Ridge Road and Spring Mill Road. Starting in 2011 improvements to US 31 will change the business landscape in Westfield. The freeway upgrade will make real estate attractive to a broader range of commercial enterprises that demand interstate access.
All of these factors when combined create the "Perfect Storm" of development potential. The Public and private sectors are working together to chart the best possible course to enhance Westfield's economic opportunities.
Wilfong & Kreutz Land Development
17830 Casey Road
Westfield IN, 46074
Work: (317) 867-0033 Fax: (317) 867-0003
