New Businesses Bring Stability to Neighborhoods

For many of us, the decision to move to an older neighborhood is due to:

1. Affordability - in some cities, older urban homes cost less than new homes (especially if you are in a city where foreclosures are the talk of the day - not good news for some, but opportunities for others).
2. Activism - you’re a new urbanism advocate and choose to live closer to older urban centers (you’re not a fan of urban sprawl).
3. Good Taste - you like the architecture, character and feel of “seasoned” older communities.

Okay, so those are the good reasons. But there is one concern many of us have when we start considering the move to older communities. Are they stable? Is the community in a state of decline or are residents there activily working to boost the viability of living and working in that community? Are there “new urbanism” champions among residents AND city officials to support the redevelopment or enhancement of this neighborhood?

I just read an article in the Indianapolis Star that focused a spotlight on one of the city’s older neighborhoods called Fall Creek.  A number of ambitious and excited new business owners have staked their careers and precious investments on new storefront businesses in this part of the city.

Indianapolis Deputy Mayor, Steve Campbell, who lives in the Fall Creek neighborhood “sees the commercial ventures as part of the bigger picture — they bring stability and appeal to the redeveloped area.”

So, if you’ve got that business idea that has been nagging you for years but you didn’t think you had the funds to get it off the ground, think again. You just might be able to launch your business in one of your region’s urban centers. There are often government incentives to help entrepreneurs choosing to invest in certain urban centers.  Federal funds have been specifically targeted to help those cities in need of new ideas, vision and the confidence of people committed to making cities good places to live, work and thrive.