BDASI Housing Report 2021 - Page 34

FINAL SUMMARY

The five county jurisdiction of the Building and Development Association of Southern Indiana has seen some of the most rapid growth our region has seen over the past five years . This growth , coupled with fantastic opportunities just around the horizon , puts Southern Indiana right in the crosshairs for huge population influxes over the next few years . It is our duty as leaders in this industry to ensure the growth of our community is headed in the right direction and provides the biggest return on investment for each of our cities , towns , and counties .
As you can see with the details in this report , each of our communities are very diverse in their markets . This diversity , while great for the consumer , can be very challenging in regard to planning and paving the way for a “ smart ” growth future . Similar to daily life , it is always beneficial to pause and “ take stock ” of where things are today and where things are heading tomorrow . By providing an outside viewpoint at the inventory and market of each community within our region , this study aims to do just that .
As referenced by the study , Clark County is leading the way , not only in new home starts , but also in total sales , diversity of sales , and population imports . Clark County and its municipalities have done a tremendous job over the last 10 years of paving a path for future growth and expansion . The River Ridge Commerce center has been a huge economic driver and will continue to be a focal point of growth in this community . Floyd County has seen a slight uptick in growth over the last 10 years as well . It is critical that Floyd County enable growth and underserved areas of the City of New Albany and county boundaries . The massive influx of people being drawn by River Ridge is a key piece of growth that Floyd County must tap into in order to successfully grow their tax base and diversify the housing stock alongside providing opportunities for the two massive generations making up much of Floyd County ( Baby Boomers , Millennials ). Harrison , Scott , and Washington County are the more rural communities within the jurisdiction of the BDASI . With that said , these three counties and their municipalities are ripe for growth and possess the tools to support the influx of growth within these communities , as Clark and Floyd continue to grow and the consumer looks elsewhere to support their needs ( i . e . land , larger lot size , larger footprint , etc .). These counties also , while very diverse on their own , do share the same challenges in regard to improved infrastructure and marketability in order to support and attract the overflow of growth out of Clark and Floyd county .
As you can see , our community has positioned ourselves among the most regionalistic , growth-minded , forward-thinking communities within the midwestern territory . While we have done a fantastic job in this regard over the last decade , we have no time to sit on our laurels , as we stand on the precipice of expanded and continued growth with high employment opportunities , low unemployment rates , and expanded quality of life amenities while continually attracting new residents into our community . All of these advantages all lead to challenges in which we all ask ourselves , “ what ’ s next ”. Again , it is our hope this study fills a void in the brainstorming and planning process .
It is our purpose here at the BDASI to encourage smart growth for the long term economic stability of our community . We are cognisant of the fact this statement is not a “ one-size-fits-all ” solution due to the fact that our communities each have their own trials and tribulations with the diversity of our region . It is our mission to be a resource to our community leaders and neighbors , while we will remain fierce vocal advocates in order to promote smart-growth policies . We thrive in educating and providing information to aid in decision making processes .
Since 1956 , it has been our mission to shape and mold the betterment of the Southern Indiana region and this mission has never wavered . Ultimately alongside our tremendous members , we take pride in our ultimate goal of “ Building Better Tomorrows ”. This is something that we take tremendous pride in and we understand we , under no circumstances , cannot do this by ourselves . We MUST work together as a community in order to provide a better tomorrow for those of us here today , tomorrow , and down the road .
32 BUILDING & DEVELOPMENT ASSOCIATION OF SOUTHERN INDIANA