I recently read an article in either WSJ or Forbes that polled readers : "What is your city's Williamsburg and Bushwick?" If you are unfamiliar with hipster culture in Brooklyn, Williamsburg is the neighborhood most widely associated with the 21st Century-Hipster. Characterized by vinyl shops, coffee houses, and enough "ironic" behavior to give Alanis Morissette enough material for 3-4 more albums. Over the lest 5-10 years it has become the center of hipster-dom. The popularity is counterintuitive to being a hipster, and as a result, a new haven has birthed in the predominately Puerto Rican neighborhood of Bushwick.
Using that premise, Broad Ripple is Indianapolis' Williamsburg, albeit for quite a while longer. When people think of a cool, hip area, Broad Ripple pops to the top of the list. However, it recent years a renaissance has taken place in Southeast Indy. Fountain Square has been reinvigorated with dozens of new restaurants, boutiques, and music venues that had abandoned the area decades ago. A sort of "new" Broad Ripple, Fountain Square caters to a slightly different audience.
Home prices are remarkably affordable, with completely renovated starter homes between $100-$150k and fixer uppers under $50k. With the cost of living relatively low, Fountain Square can be appealing to a variety of demographics. It certainly has a more alternative music and nightlife scene (White Rabbit Cabaret, Radio Radio, etc...), but also offers fantastic dining (Revolucion, Santorini, and Siam Square) and recreation (Duckpin Bowling.)
The cultural trail and development of Virginia Avenue has created a distinct pathway linking Fountain Square, Fletcher Place, Holy Rosary, and Downtown Indy. Residents can easily bike to Lilly, Monument Circle, or even IUPUI. There is also easy access to I-65/I/70, making travel to the burbs quick and manageable.
As the area continues to develop it's reputation, home prices will increase, rent will increase, and business will become more competitive. With talks of developing more options for residents, it is certainly a good time to be in Fountain Square.
Please contact me for more information regarding Fountain Square homes for sale.