Mixed-use developments are transforming the landscape of cities across Indiana—and two of the most active markets leading the charge are Noblesville and Greenwood. These once quiet suburban communities are now hubs for dynamic, walkable environments that combine residential, retail, office, and recreational spaces into one thoughtfully planned ecosystem.
At Annie Scott Realty Group LLC, I help clients stay ahead of these evolving market trends. Whether you’re an investor, developer, or business owner, here’s what you need to know about the mixed-use boom happening right now in Noblesville and Greenwood.
What Are Mixed-Use Developments?
A mixed-use development combines two or more property uses—typically residential, commercial, and/or civic space—into one cohesive project. This model creates synergy between how people live, work, and shop, often centered around walkability, public amenities, and community engagement.
These developments are increasingly popular in suburban areas seeking to offer the feel of a downtown district without losing their residential charm.
Why Noblesville & Greenwood Are Leading the Way
Noblesville: Bridging Tradition and Innovation
Noblesville’s growth has been deliberate and community-focused. As part of Hamilton County, one of Indiana’s most affluent and fastest-growing counties, the city is embracing smart development while maintaining its historic appeal.
Key Projects & Trends:
- The Village at Federal Hill: A live-work-play destination near the White River, combining luxury apartments, retail, dining, and entertainment.
- Downtown Noblesville revitalization: Adaptive reuse of historic buildings alongside new infill development.
- Riverwalk and parks expansion: Promoting pedestrian access and outdoor recreation to support nearby mixed-use growth.
What It Means for Investors:
Noblesville offers strong household incomes, excellent schools, and a population that supports high-quality retail and professional office space—ideal for mixed-use investments.
Greenwood: Southside Growth Meets Modern Living
Greenwood has quietly become a powerhouse for retail and residential development on the south side of Indianapolis. Its strategic location along I-65 and emphasis on economic development have attracted national retailers, healthcare providers, and new housing.
Key Projects & Trends:
- Greenwood Downtown Redevelopment Plan: Includes a walkable downtown core with retail, dining, and apartments near Old Town Greenwood.
- Greenwood Fieldhouse Area: The newly opened community sports complex is expected to anchor future mixed-use residential and commercial development.
- TIF districts and city incentives: Greenwood has used creative funding tools to attract developers focused on mixed-use and infill projects.
What It Means for Developers:
Greenwood is ideal for mid-scale urban infill and mixed-use nodes that serve both commuters and long-term residents. The city actively supports development aligned with smart growth principles.
Why Mixed-Use Makes Sense in Today’s Market
- Diversified Revenue: Investors benefit from multiple income streams—residential rents, commercial leases, and retail traffic.
- Community Appeal: Residents want live-work-play environments without long commutes or car dependency.
- Higher Land Efficiency: Mixed-use maximizes land value by layering use types vertically or within close proximity.
- Increased Walkability & Lifestyle: Projects built around public plazas, green space, or entertainment attract tenants and consumers.
What to Watch For as an Investor or Business Owner
- Zoning & Approvals: Mixed-use often requires zoning variances or PUD (Planned Unit Development) overlays—local expertise is critical.
- Tenant Mix: Retail tenants that thrive in these environments include boutique fitness, coffee shops, fast casual restaurants, and wellness providers.
- Parking & Infrastructure: These can be deal-makers or deal-breakers. Newer developments often include shared parking and public transit access.
- Public-Private Partnerships: Many projects succeed through city grants, tax abatements, or infrastructure cost-sharing.
Final Thoughts
The rise of mixed-use developments in Noblesville and Greenwood isn’t just a trend—it’s a shift in how Indiana suburbs are shaping their future. These walkable, connected communities offer exciting opportunities for investors, developers, and business owners ready to meet growing demand for live-work-play environments.
At Annie Scott Realty Group LLC, I help clients identify the right locations, navigate zoning and permitting, and evaluate mixed-use projects for long-term value.
Let’s talk about how to position your next investment in one of Indiana’s most promising development corridors.
Photo Credit: Luxury Presence
Sources:
- City of Noblesville Planning & Development
- City of Greenwood Redevelopment Commission
- Indiana Economic Digest
- Urban Land Institute – Mixed-Use Development Best Practices
- CoStar and CREXi Market Data
